Finance
A Maine bank offers a home equity line of credit (HELOC). This is best described as:
AA fixed-rate second mortgage for a specific amount
BA revolving line of credit secured by the equity in the borrower's home✓ Correct
CA government-backed loan for home improvements
DAn unsecured personal line of credit
Explanation
A HELOC is a revolving line of credit that uses the borrower's home equity as collateral. Borrowers can draw, repay, and redraw funds during the draw period, similar to a credit card but secured by real property.
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