What You Should Know About Home Equity Lines of Credit (HELOC)

When you and your lender discuss home equity lines of credit, often referred to as HELOCs, from the Consumer Financial Protection Bureau (CFPB), this booklet can help you explore and understand your options when borrowing against the equity in your home.

After you finish this booklet:

• You’ll understand the effect of borrowing against your home,

• You’ll think through your borrowing and financing options, besides a HELOC,

• You’ll see how to shop for your best HELOC offer,

• You’ll see what to do if the economy or your situation changes.

potential home buyers, realtors, mortgage brokers, and banks