A good HELOC is a variety of rotating borrowing you to allows you to borrow funds up against the collateral in your home At-A-Glimpse An effective HELOC is a beneficial rotating line of credit one enables you to obtain a portion of your residence guarantee to have an appartment months of energy, as repaid having desire. When you yourself have high home guarantee and are considered creditworthy by the loan providers, HELOCs might be a helpful replacement for loans or playing cards because the rates of interest are usually down.