Good to see you in the forum! A Home Equity Line of Credit (HELOC) has the potential to be a little bit cheaper than a Home Equity Loan (HEL). A HEL will generally have additional closing costs, and the HELOC has the potential to have interest rates as low as 2.5%, if you get approved for a larger credit limit. This is compared to the HEL that typically ranges from 4-8% in interest plus 2-5% closing costs.
You can check out our comparison between the HELOC and HEL in our article on the two, and these costs are discussed in more detail.