Obtaining a Home Equity Credit Line is not only easy, but its also very resourceful. A Home Equity Credit Line can provide a large sum of money with a low interest rate and will also provide tax breaks on various loans. The downside to this is that the final installment on the loan is a large balloon payment. This may cause you to borrow more money, furthering your debt. Another con to this is that it may use your home as a collateral, therefore possibly putting your home into jeopardy. If you are planning on going with a Home Equity Credit Line, it is possible to find a program that does not require your home as collateral. It is also possible to find one with the balloon payment at the end of the loan.