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A photo of a young couple working on their finances at a dining room table.
A HELOC functions similarly to a credit card, except that it’s secured by your house.

FG Trade/Getty

Tags
Personal Finance, Loans, Mortgages, HELOC, personal-finance-insider, pfi-reference, pfi-freelance, Mortgages, pfi, PFI-XAMP, pfi-money, pfi-storytelling
Source
Pros and cons of a HELOC (Home equity line of credit)