How can I know my loan a Heloc? I have a regular loan for my primary home

anthonyquesnel · ‎October 01, 2025

xmasbaby0

"Heloc" means "home equity line of credit" Have you opened a line of credit against your home? Or are you simply paying for a mortgage loan that you took out when you purchased the home originally? If you are still not sure---ask your lender.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Mike9241

HELOC is debt (main or second home - third home never qualifies under the exception that follows) that exceeds acquisition debt. Generally, HELOC interest is not deductible but there is an exception if the proceeds were used to build an addition (but not repair) to the existing home. It must be secured by the home, not exceed the cost of the home, and not exceed when added to other acquisition debt the max amount for AD.