Confused while shopping for HELOC!

[Kumar Gaurav]

The concept of HELOC is new to me but I learnt this can be secondary lien that gives an opportunity to pay off loan quickly. I am shopping around but having a hard time to compare and contrast since the product is not straight forward like a conventional loan and I don't quite understand what it means when the product is presented as follows and how do I know if this is a better rate in the current market.Are there any books or video resources that can help me make an educated decision?

70% or less CLTV $25,000 - $500,000

Variable 3.75% APR (Prime + .25%)

70.01% to 80% CLTV $25,000 - $500,000 Variable 3.75% APR (Prime + .50%)

Appreciate your inputs.

Thanks