A Home equity credit line is a mortgage loan that carries a maximum credit limit that allows the borrower to disburse funds up to the maximum credit line as needed.

Funds may be disbursed repeatedly (as the principal balance is paid down) while not exceeding the available credit limit. A line of credit functions similar to a credit card and may be accessed by writing a check or a using a debit card.

You can pay back your credit line on your own terms. You can make the minimum payment, pay off your entire balance all at once or some where in between. It's all up to you. As you repay your Equity Credit Line, the funds become available for use again.