You can write checks or use your ATM card to withdraw cash or pay bills by debit. Meanwhile, you pay interest only on the portion of the credit line you are using, rather than on the full amount. Say the bank gives you a HELOC of $100,000, and you borrow $50,000 and pay back $25,000. That means you have $75,000 available. A HELOC typically has a variable interest rate. The HELOC is secured by the value of your house. You also can pay down your entire balance with no penalties.
Web site (http://www.fanniemae.com) or any lender who works with Fannie Mae. Consider refinancing. By refinancing, you can cash out the equity in your house and obtain a mortgage, typically at a lower interest rate than you have and for little cost. Then you can pay for the renovations with the money you cash out.