home equity loan
1home equity loan — ➔ loan1 * * * home equity loan UK US noun [C] FINANCE, PROPERTY ► a loan that uses your home equity as a guarantee that the money you borrow will be paid back: »We purchased a fixed rate home equity loan with a regular payback period …
2home equity loan — see loan Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. home equity loan n …
3Home equity loan — A home equity loan (sometimes abbreviated HEL) is a type of loan in which the borrower uses the equity in their home as collateral. These loans are sometimes useful to help finance major home repairs, medical bills or college education. A home… …
4Home-Equity Loan — A consumer loan secured by a second mortgage, allowing home owners to borrow against their equity in the home. The loan is based on the difference between the homeowner s equity and the home s current market value. The mortgage also provides… …
5home equity loan — a second mortgage The security being deferred to the first mortgagee, the terms are onerous and only accepted by those in dire financial straits: Home equity loan sounded ever so much more palatable than second mortgage . (M. Thomas,… …
6home equity loan — noun a loan secured by equity value in the borrower s home • Syn: ↑home loan, ↑home equity credit, ↑equity credit line • Hypernyms: ↑consumer credit, ↑loan …
7Home equity — is the value of a homeowner s unencumbered interest in their property, i.e. the difference between the home s fair market value and the unpaid balance of the mortgage and any outstanding debt over the home. Equity increases as the mortgage is… …
8home equity line — n: home equity loan at loan Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …
9home equity line of credit — home equity line of credit: home equity loan at loan Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …
10equity loan — n: home equity loan at loan Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …
