HELOC stands for:

Question

HELOC stands for:

Quizplus · Accepted Answer

HELOC stands for Home equity line of credit, which is a loan in which the lender agrees to lend a maximum amount within an agreed period, where the collateral is the borrower's equity in their home. A is incorrect because "help equity line of counsel" does not make logical sense. C is incorrect because "home equity list of collateral" is not a commonly used term in the financial industry. D is incorrect because "help expenses loan occupational credit" does not accurately describe what a HELOC is.

HELOC Stands For