I have a $200,000 limit on my Home Equity Line loan. With interest rates continually rising, I'm very glad I paid cash in Nov. for my P-car. A Home Equity Line can come in very handy and if there's bank competition where you live, often times the bank pays ALL associated costs (mentioned in above posts) with securing the line of credit (closing, survey, etc.). Warning: they (your line of credit) can be very seductive so be careful.