equity loan


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equity loan

A line of credit secured by the equity in the borrower's home.It is open ended,meaning the borrower may take advances, pay down the line to reestablish it, and then take advances against it as needed; usually renewed on an annual basis, with adjustable interest rates tied to the lender's prime rate.(Often called a HELOC—home equity line of credit.)

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References in periodicals archive ?
However, if the taxpayer took out a $250,000 home equity loan on the main home to purchase the vacation home, then the interest on the home equity loan would not be deductible.
United States : Interest on Home Equity Loans Often Still Deductible Under New Law
If you sell your home at a later date, you will need to pay off the equity loan from the proceeds.
Successful Help to Buy Wales scheme extended to 2021
The Government insisted the scheme is supporting "responsible lending", with the average house price being bought under the mortgage guarantee scheme at PS151,597 and the typical price under the equity loan scheme at PS204,805.
Help to Buy crucial for buyers, says Cameron
"The scheme is designed to help home buyers secure low deposit mortgages and stagger the cost of buying a home, as they do not pay rent on the equity loan and it's interest free for the first five years.
Helping you buy home with river view
"With over 10,000 reservations in four months, it's clear that the Help to Buy: Equity Loan is working well.
New-build 'on the up''
The Cranial Equity Loan was written over a four-month respite from work on The 89TH Temple, a novel of bullying and teen suicide set in Japan.
Author Releases Play Set in Australia, The Cranial Equity Loan
Unlike previous schemes which offered equity loans it's not just open to first time buyers but can be used by other purchasers too.
HELP TO BUY NOW AVAILABLE ON NEW REDROW HOMES IN LIVERPOOL; ADVERTISING FEATURE WITH the chance to secure a property with only a 5% deposit and save thousands off the initial price, there's never been a better time to buy a brand new Redrow home in Liverpool
About One in Three Consumers Used a Home Equity Loan to Make Home Improvements
Americans Are Hooked On Home Equity Loans/Lines; One in four homeowners have both a mortgage and a home equity loan/line
Interest on a home equity loan is deductible only to the extent of $100,000 of debt.
Tax planning for vacation home owners
The proliferation of what Fed chairman Alan Greenspan dubbed exotic mortgage products such as adjustable rate loans, piggyback loans, interest only loans, and home equity loans, whose monthly payments can as much as double if interest rates rise to not unfathomable levels, as well as mixed economic signals such as choppy job growth, and the way real estate appreciation has exceeded salary increases have provided fuel for many an apocalyptic scenario.
Market has borrowers stretching every which way
The Jacksons also refinanced the home equity loan they had taken out to renovate a third house they inherited from Jacqueline's father.
Taking steps toward financial independence: our 2003 financial fitness contest winners are reaching their goals with solid fiscal planning
The brochure, Putting Your Home on the Loan Line Is Risky Business, warns that regardless of whether a home equity loan is for a home repair, bill consolidation, or some other purpose, it is important to shop around.
Federal agencies publish consumer brochure on predatory lending

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