A variable rate line of credit tied to Prime which allows you to borrow against the equity you have in your home that you already own. Interest payments on home equity lines of credit may be tax deductible. Consult your tax advisor concerning the deductibility of interest.

A combination of a line of credit and equity loan secured by real property. A maximum loan amount is established based on credit and equity. A mortgage is recorded against the potential borrower's property for said maximum loan amount. The potential borrower has the right to borrow, as needed, up to the amount of the credit line.

An open-end loan, usually recorded as a second mortgage, that permits borrowers to obtain cash advances based on an approved line of credit.

A combination of a line of credit and an equity loan. A maximum loan amount is established based on equity and credit, and a mortgage is recorded against the property; then you have the right to borrow, as needed, up to the amount of the mortgage. Many students use credit lines to get started in this business.

A form of open-end credit in which the home serves as collateral and against which the creditor may draw funds in the future.

Equity Line of Credit is a 30-year loan that lets you convert equity in your home to cash.

A revolving line of credit against the equity in one's home.

A deed of trust is recorded against the borrower's property for a predetermined maximum loan amount and the borrower can borrow up to the amount of the loan amount as needed. Usually interest only for a period of 5 to 10 years and then the loan becomes a fixed mortgage and no more equity can be borrowed. Payments are then principal and interest until payoff.