HELOC Loans inside the Miami-Dade Condition, Florida: Find out about the benefits and exactly how They work A property equity line of credit, otherwise HELOC, was a line of credit supported by your property enabling your an open-finished personal line of credit to use to possess big expenditures or even reconstitute financial obligation off their fund for example handmade cards which have high rates. Just as in a charge card, you can mark money from an effective HELOC a few times after which repay it. To-be right for a good HELOC, you should fulfill particular requirements like other funds. Such standards is which have a stronger credit history and you can a home control.