Episode
HELOC Explained: How Home Equity Lines of Credit Really Work (and the Risks)
- Published
- May 20, 2026
- Duration seconds
- 785
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Summary
Ron Butler, principal broker at Butler Mortgage and host of the Angry Mortgage Podcast, breaks down exactly how home equity lines of credit work, the key differences between a HELOC and a traditional mortgage, and the real risks of using one to cover vacations, pay off credit cards, or fund rental properties. He also explains why a HELOC is a demand loan — meaning the bank can reduce or call it on just 24 hours' notice — and offers one simple self-assessment to determine whether you have the financial discipline to manage one responsibly. Find out more at butlermortgage.ca and connect on X, Instagram, and Facebook.