equity的概念在这里是差额的意思，home equity就是指在房产已有mortgage的情况下进行差额（房产价值与现有未偿还mortgage loan之差额）抵押贷款。同一房产可以申请多于一次的mortgage loan，出于法律上的责任每次的mortgage loan使用顺序的，第一次的通常叫mortgage loan，之后的所有mortgage loan都叫equity。
line of credit是与mortgage loan的一种扩展信用额度，这个信用额度就像信用卡上的信用额度一样，可以随时用，也可以放在那里不用。line of credit的利率当然要比mortgage loan利率高。
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Home equity is the market value of a homeowner's unencumbered interest（未受限的利益---就是上面说的差额） in their real propertythat is, the difference between the home's fair market value and the outstanding balance of all liens on the property. The property's equity increases as the debtor makes payments against the mortgage balance, and/or as the property value appreciates. In economics, home equity is sometimes called real property value.
A line of credit is any credit source extended to a business by a bank or financial institution. A line of credit may take several forms such as cash credit, overdraft, demand loan, export packing credit, term loan, discounting or purchase of commercial bills etc. It is like an account that can readily be tapped into if the need arises or not touched at all and saved for emergencies. Interest is only paid on the money actually taken out.
Lines of credit are often extended by banks and financial institutions to credit worthy customers to overcome liquidity problems
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