Access to money seems to always that it easily comes and easily goes. If you own a home, you want to make sure that the flow of money coming and leaving is to your advantage. By taking out a home equity line of credit, you will have the ability to invest, finance and profit off of what you have in property value. Your equity is the property value of your home minus your loan balances.A home equity is where one can borrow against their own home with the loan that they are using. It will allow you to take out a second loan in order to consolidate debt and pay off major parts of your loan. You can even use your equity line of credit as a money merge account to pay down your first mortgage balance. This recently introduced concept is gaining popularity because mortgages have front-loaded interest. You may want to look into that with a financial advisor.A home equity line of credit differ from a home equity loan. A regular home equity loan will give you a fixed sum of money at one time with one fixed payment. When you take out money from a line of credit, your payment back to the line of credit will alter the balance as you pay the loan back and change the payment as well.The major advantage of having a home equity line of credit is that you can use it like a credit card. This means that you can use as much or little as you need at one time, and pay back the line of credit at your own convenience. If you don’t use the full line of credit, you can use the extra amount of money later on in order to make more investments, unlike the home equity loan. If you sell your house, you are only responsible for what you have spent on the line of credit, not the unused portion.The major advantage of using home equity like credit is that it won’t be as risky as other types of home equity loans. Because you can take it in any type of dose that you want, it will give you the ability to spend as you need and pay back as you want. For someone wanting to make a little more of an investment in order to improve their home, or for other reasons such as debt consolidation, college, this is a excellent solution to achieve that goal. It is always wise to keep in mind the interest rates you are using the equity line of credit for. Ideally, it should be paying down higher interest debt.