A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- MortgageA loan used to buy a home, where the property itself acts as collateral the lender can take if you stop paying.
- Line of CreditA flexible borrowing arrangement that lets you draw funds up to a limit as needed and pay interest only on what you use.
- Revolving CreditA type of borrowing where you can repeatedly use and repay up to a limit, like a credit card, without a fixed payoff date.
- Secured DebtBorrowing backed by collateral, like a house or car, that the lender can take if you fail to repay the loan.
- CollateralAn asset you pledge to back a loan, giving the lender the right to seize it if you do not repay as agreed.
Turn this into a brick
Knowing what HELOC (Home Equity Line of Credit) means is knowledge — the first half. A brick gets placed when you act on it.
More in Credit & Debt
Plain-English education — not personalized legal, tax, or investment advice.