Home equity line of credit

Home equity line of credit

A type of mortgage loan that allows the borrower to draw cash against the equity in his home.

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Part of Speech: noun
Synonym(s):
Blossary:
Industry/Domain: Real estate
Category: General
Company: Coldwell Banker
Product:
Acronym-Abbreviation:

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Related terms

home equity line of credit

Real estate; General

A mortgage loan, which is usually in a subordinate position, that allows the borrower to obtain multiple advances of the loan proceeds at his or her own discretion, up to an ...

home equity line of credit

Real estate; General

A type of mortgage loan that allows the borrower to draw cash against the equity in his home.

home equity line of credit (HELOC)

Banking; Refinance

A line of credit secured by the equity in a borrower's residence. It can be used for home improvements, debt consolidation, and other major purchases or expenses. At closing, a ...

home equity line of credit (HELOC)

Banking; General banking

A line of credit secured by the equity in a consumer's home. It can be used for home improvements, debt consolidation, and other major purchases. Interest paid on the loan is ...

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