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Real-World Examples and Considerations

Consider a homeowner with a property valued at $400,000 and a remaining mortgage balance of $200,000. This individual could potentially access a HELOC of up to $140,000, assuming the lender allows borrowing up to 85% of the home's value. However, it's crucial to weigh the benefits against potential risks, such as fluctuating interest rates and the responsibility of managing a revolving line of credit.