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BMO - Loan vs. Line of Credit: What�s the Difference?BMO Harris offers both home equity loans and home equity lines of credit for a large variety of eligible properties. Home equity loan terms with BMO Harris Bank range from five to 20 years, while HELOCs are available in 5, 10, 15, 20 and year terms. To be. If you applied for a home equity line of credit (HELOC),you'll receive a guide that explains important information regarding this product and the BMO Home.