A home equity line of credit (HELOC) is a revolving line of credit, much like a credit card. You can borrow as much as you need, any time you need it, by taking an advance through online banking, at any Reliant branch, at an ATM, over the phone at 800-724-9282, or with HELOC checks. You may not exceed your credit limit. Because a HELOC is a line of credit, you make payments only on the amount you actually use, not the full amount available.

A home equity loan is a loan for a fixed amount of money. You repay the loan with equal monthly payments over a fixed term, just like you’d do with any installment loan (e.g. an auto loan, a mortgage, etc.).