A home equity line is a loan that can be secured against the equity in a homeowner's property. It is also referred to as a HELOC, or Home Equity Line of Credit. Other synonyms for this financial product include a second mortgage, a home equity loan, a second charge mortgage, or a homeowner loan. Regardless of the term used, a home equity line allows borrowers to access funds using the equity in their home as collateral. This type of loan can be beneficial for those looking to make renovations or large purchases, consolidate debt, or cover unexpected expenses. It is important to understand the terms and conditions of the loan before taking out a home equity line.