No, a HELOC is not the same as a Home Equity Loan. With a Home Equity Loan, you receive funds on a certain date and pay them back according to your mortgage agreement. A HELOC is a line of credit that lets you access up to 75% of your home's appraised value. You use the funds you need and pay them back when you want over and over. Both a HELOC and a mortgage loan are secured by a registered charge on the title to your property.