A Home Equity Line Of Credit (or HELOC) is a floating-rate mortgage on your home. It is a revolving line of credit, much like a credit card account, except that you access your loan funds by writing checks drawn on your credit line. You can repay all or some of your loan amount, and then re-draw or re-use those funds again. You will receive a monthly statement that shows all of the checks you wrote, any payments you have made, the interest you were charged, and a minimum payment for that month. For more information, you may call us at 410-668-4400.