Finance
What is a HELOC?
AHome Equity Loan on Credit — a fixed loan against equity
BHome Equity Line of Credit — a revolving credit line secured by home equity✓ Correct
CHome Equity Lease Option Contract
DHigh Equity Loan Origination Cost
Explanation
A HELOC (Home Equity Line of Credit) is a revolving line of credit secured by the borrower's home equity. Unlike a fixed home equity loan, borrowers draw funds as needed up to a credit limit.
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