(SPEECH) [UPBEAT MUSIC] What is a Home Equity Line of Credit or a HELOC? And what can it be used for? (DESCRIPTION) A blue line crosses the screen. A house with trees grows from the bottom of the screen. (SPEECH) As a homeowner, you may benefit from the equity in your home to pay for major expenses with a home equity line of credit. It's a flexible and convenient way for you to borrow funds against this equity for things like remodeling your home, consolidating debt or larger purchases, even purchasing a car. (DESCRIPTION) The house expands into a bank and coins are dropped through the top. A hammer, a piece of paper, and a car appear next to one another. (SPEECH) First, it's important to understand what home equity actually is. For example, if your home is worth $300,000 and you owe $220,000 on your mortgage, this means you would have $80,000 of equity that you may be able to borrow against. (DESCRIPTION) The house grows and expands into a bank again. Silver coins are dropped into and fill the house. (SPEECH) Using this equity as a line of credit gives you multiple ways to quickly and conveniently access available funds that can be used for home or non-home related expenses. Home equity lines of credit can generally offer lower interest rates and higher credit limits than other forms of credit. (DESCRIPTION) An additional section is added to the home. A deck and patio are added. A car with a ribbon drives onto the frame. A bar graph below the home grows into the frame. The left bar shrinks as the right bar grows. (SPEECH) Homeowners can use them for home improvements, debt consolidation, or making large purchases, and could be tax deductible. Regardless of who your mortgage is with, if you have equity in your home, here at U.S. Bank, we can help you better understand your borrowing options to make the process efficient and painless, meaning your next big project or purchase might be closer than you think. (DESCRIPTION) The bar graph is replaced by three stacks of money. Additional stacks appear on the screen. A paper with text, “Tax form”, is stamped by a hand. A house grows back into the frame. Cartoon people shake hands. Logo, U.S. Bank.