home equity loan (Meaning)
Wordnet
home equity loan (n)
a loan secured by equity value in the borrower's home
Synonyms & Antonyms of home equity loan
No Synonyms and anytonyms found
home equity loan Sentence Examples
- A home equity loan is a secured loan that uses a property as collateral.
- Taking out a home equity loan can provide homeowners with access to funds for major expenses or renovations.
- The interest rates on home equity loans are typically lower than those on personal loans.
- The amount you can borrow with a home equity loan is determined by the amount of equity you have in your home.
- Home equity loans are often used to consolidate high-interest debt.
- You can typically repay a home equity loan over a period of 5 to 30 years.
- Home equity loans can have closing costs, so it's important to factor that into your budget.
- Using a home equity loan to invest in your property can potentially increase its value.
- Failing to make payments on a home equity loan can result in foreclosure.
- Home equity loans offer tax benefits, making them an attractive option for homeowners with sufficient equity.
FAQs About the word home equity loan
a loan secured by equity value in the borrower's home
No synonyms found.
No antonyms found.
A home equity loan is a secured loan that uses a property as collateral.
Taking out a home equity loan can provide homeowners with access to funds for major expenses or renovations.
The interest rates on home equity loans are typically lower than those on personal loans.
The amount you can borrow with a home equity loan is determined by the amount of equity you have in your home.
