You’ll then close ... line of credit, or a combination of these. It doesn't require repayment until the borrower dies, moves out of their home, or sells it. The term “HELOC” stands for home ...

Closing costs for a HELOC may run anywhere from 2% to 5% of the loan amount, but some lenders will waive the fees if you keep the credit line ... home equity, families should max out on federal ...