It means that unlike a normal loan, the borrower can borrow a sum of money over a certain time period till a certain limit, instead of being paid a sum in bulk. This often works to the benefit of the borrower. In the following paragraphs, the terms home equity and home equity lines of credit have been discussed. This loan is viewed to be a secured-personal loan, and the borrower can borrow sums of money at his/her discretion, whenever he or she wants. The purposes can be variable.