What does home equity credit mean?
Definitions for home equity credit
home eq·ui·ty cred·it
This dictionary definitions page includes all the possible meanings, example usage and translations of the word home equity credit.
Princeton's WordNet
home loan, home equity credit, home equity loan, equity credit linenoun
a loan secured by equity value in the borrower's home
ChatGPT
home equity credit
Home equity credit, also known as a home equity line of credit (HELOC), is a line of credit provided by a lender which is secured by the borrower's home. It allows homeowners to borrow against the available equity in their homes. The equity is determined by the difference between the market value of the home and the outstanding balance of all liens on the home. This type of credit often has a lower interest rate than credit cards or personal loans because the borrower's house serves as collateral.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of home equity credit in Chaldean Numerology is: 4
Pythagorean Numerology
The numerical value of home equity credit in Pythagorean Numerology is: 8
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"home equity credit." Definitions.net. STANDS4 LLC, 2024. Web. 27 Apr. 2024. <https://www.definitions.net/definition/home+equity+credit>.
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