why is it so much easier to get a heloc than a home equity loan ?

This is only a guess, but I think it might have to do with the fact that the line of credit might require interest only payments, but the loan has “principal and interest” payments.

For example, a line of credit in the amount of $50,000 at 5% requires interest only payments of $2,500 a year or about $208 a month.

The same amount at the same interest rate for 10 years requires a payment of $530 a month.

This of course is just an educated guess.