equity line
Property-backed credit
An equity line, short for home equity line of credit, is a revolving credit arrangement that lets homeowners borrow against the value they've built up in their property.
Unlike a traditional loan paid out all at once, an equity line works like a credit card—you draw funds as needed up to a limit: We used the equity line to pay for the kitchen renovation.
- homeOne's personal residence
- mortgageSecured home loan
- creditRecognition or payment deferral
- loanBorrowed money repaid later
- second mortgageSubsequent lien on property
borrow · refinance · cash out · collateral · interest · interest rate · fixed rate · bank · lender · property · debt · principal · APR · draw · funds · homeowner · second · HELOC
- Home EquityHELOC, second mortgage, reverse mortgage, LTV, home value
- property liensmechanic's lien, tax lien, encumbrance, subordination, priority
equity lineunsecured loan
Debt lacking pledged property
personal loan · signature loan · unsecured credit · credit card debt · payday loan
equity linehome equity loan
Debt using house as collateral
term loan · installment loan · fixed-rate mortgage · auto loan
equity, line, equities, equitable, equitably, inequitable, inequity, equal, equality