looking for corrections, not sure i am right

You receive funds from an unsecured personal line of credit based on a regular disbursement schedule Securing this type of line of credit doesn't require going through the formality of setting up a new loan. It draws on a line of credit that can be for $25.000 or more Remember, even though acquiring the funds is as simple as writing a check, the funds still represent a loan. Payments are usually structured to be due Home equity lines of credit enable you to acquire cash based on the equity in your home . The majority of lenders extend home equity lines of credit based on either 100% of your equity or some portion, usually 75% to 80% of your home's market value, whichever is more If you have an existing mortgage on your home, most lenders will decrease your maximum line of credit by the outstanding balance of that mortgage Today your home is worth $75,000. The balance you owe on your mortgage is $5,000. Your equity is $ 70,000. You do not have to sell your home in order to gain access to your equity. According to your lending institution's policy, the maximum home equity line of credit is 80% of your home's worth. Eighty percent of your home's worth is $ 60,000. Your lending institution follows the practice of most lenders as described in the previous paragraph. Your line of credit will be $ 56,000 This line of credit is considered a loan that will be secured with an additional morto age on your house You receive funds from an unsecured personal line of credit based on a regular disbursement schedule Securing this type of line of credit doesn't require going through the formality of setting up a new loan. It draws on a line of credit that can be for $25.000 or more Remember, even though acquiring the funds is as simple as writing a check, the funds still represent a loan. Payments are usually structured to be due Home equity lines of credit enable you to acquire cash based on the equity in your home . The majority of lenders extend home equity lines of credit based on either 100% of your equity or some portion, usually 75% to 80% of your home's market value, whichever is more If you have an existing mortgage on your home, most lenders will decrease your maximum line of credit by the outstanding balance of that mortgage Today your home is worth $75,000. The balance you owe on your mortgage is $5,000. Your equity is $ 70,000. You do not have to sell your home in order to gain access to your equity. According to your lending institution's policy, the maximum home equity line of credit is 80% of your home's worth. Eighty percent of your home's worth is $ 60,000. Your lending institution follows the practice of most lenders as described in the previous paragraph. Your line of credit will be $ 56,000 This line of credit is considered a loan that will be secured with an additional morto age on your house