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A HELOC is a secured line of credit that is backed by the equity in your home as capital. 

The funds can be used for any purpose you choose, it is often a source of funds to pay down credit card debt, medical debt, or as a jump start to  investment in purchasing properties for new real estate investors.

Specific terms will vary on HELOC products : repayment time, interest rates, disbursement. 

Please consult with your Lender to ensure the product you apply to meets your needs.