What is the scope of a HELOC brochure?

The scope of a HELOC (Home Equity Line of Credit) brochure is accurately represented by the option detailing open-end credit plans secured by the member's dwelling. A HELOC is specifically designed to allow homeowners to borrow against the equity they have built up in their primary residence. It operates as a revolving line of credit, giving borrowers the flexibility to withdraw funds as needed, up to a predetermined limit, based on the equity available in their home.

This definition emphasizes the nature of a HELOC as an open-end credit product, differing from traditional mortgage loans, which usually involve a fixed amount and specific payment terms. The focus on "the member's dwelling" clearly indicates that the credit line is secured against the home that the borrower occupies, usually the primary residence, rather than investment properties or other types of collateral.

The other choices address broader categories or specific aspects that do not accurately describe the essence of a HELOC, such as mentioning credit plans secured by any property or limiting it to mortgage loans or investment properties only. This underlines that a HELOC is distinctly tied to residential borrowing secured by a homeowner's primary dwelling.