Did you know there are different ways to borrow against the value of your home? We're talking about home equity lending, and it breaks down into two main types: home equity lines of credit (HELOC), and home equity loans. They sound the same, but there are a few key differences between a HELOC and a home equity loan. A home equity loan is a fixed amount, while a HELOC is a revolving line of credit. Think of the former like a mortgage or auto loan, and the latter like a credit card.