Please Explain a HELOAN?

[Josh Mills]

Hi all! I was reading through some of the lending pages and came across a HELOAN. How does this work? Is it a second loan on the property, meaning do I keep my current mortgage and rate the same while taking on an additional loan on the property? Trying to see if this is another way to pull cash out and keep my low rate on my regular mortgage. 

[Carlos Ptriawan]

HELOAN is HELOC with fixed-loan, usually offered by companies such as figure. If you have the exact plan already, that could be a good option.