You have probably heard of the term HELOC or home equity loan. These are loans against the appraised value to the balance you owe, or otherwise known as the equity in your home. When looking at the equity that you have available to you, you may be tempted to not have it sit there when it could be used for other purposes. Home equity is something that you should be careful not to tap into unless it is to increase in value or especially the value of your home. If you have determined the use of the home equity product, the options we are covering are quite simple.