General Credit & Loan Information : How Do Home Equity Lines of Credit Work?

517 views · Published 30 October 2008 · 1:13 · Indexed 10 November 2026

Channel: ehow · 2008 · Howto & Style

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Home Equity Lines of Credit (HELOC) involve a bank loan which becomes the second loan behind a first mortgage, with a payment rate determined by the loan amount, not the entire line of credit. Learn how borrowers pay off a Home Equity Line of Credit, in which the monthly rate increases with the loan amount, with information from a licensed mortgage broker in this free video on personal finance.

Expert: Adriel Torres 
Contact: ultimatecredittoday.com
Bio: Adriel Torres has been in the mortgage business for over a decade. He has owned two mortgage companies and is a licensed mortgage broker.
Filmmaker: Christopher Rokosz

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