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What is a HELOC and how does it work?
A HELOC (Home Equity Line of Credit) lets you borrow against your home equity up to a set limit, similar to a credit card. You draw funds during a draw period (typically 10 years), then repay during a repayment period (typically 10–20 years). Your home is used as collateral.
Find out if a home equity line of credit is worth the risk for your situation.
Use the HELOC Worth It Calculator →By Sean Baldwin · Last reviewed July 2026 · Part of the HELOC Worth It Calculator guide.