Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes. A home ...

To calculate your home's equity ... so that the principal and interest are paid off by the end of the HELOC repayment period. Many borrowers aren’t prepared for these payments to increase ...

This revolving credit line is broken into two parts: the HELOC draw period, during which you can borrow money from the approved credit limit, and the repayment period. “It's similar to using a ...