For general inquires, call 1.800.FULTON. First off, a home equity line of credit is NOT paying off debt.It is refinancing debt. A Home Equity Loan or Line of Credit from Thomaston Savings Bank can make it happen. With a home equity loan, you receive the entire financing upfront. Find the financing that fits—from a one-time loan to revolving credit lines. Read about the differences between a Home Equity Loan and a Home Equity Line of Credit at Equifax. See why homeowners may use a home equity loan or a heloc. Infull letter is mailed 6 business days after the loan payoff is posted to the account. A home equity line of credit (HELOC) is a loan that allows you to borrow, spend, and repay as you go, using your home as collateral.