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.)

Mentioned in ?

References in periodicals archive ?

In February 2018, the taxpayer takes out a $250,000 home equity loan to put an addition on the main home.

United States : Interest on Home Equity Loans Often Still Deductible Under New Law

CommonWealth One Federal Credit Union president and CEO Charlotte Cash said, "While a home equity loan is a smart way to put the equity in your home to work, some members were left with little or no equity after the Great Recession and the dramatic drop in home values.

CommonWealth One offers zero equity loan

It is also a requirement of the Help to Buy Equity Loan scheme that your other main mortgage be on a 'repayment' basis only.

How to work out the new Help to Buy scheme

No interest is charged on the equity loan for the first five years and the purchaser has to contribute the remaining equity through an agreed mortgage.

Government cash help for Black Country homebuyers

About one in five (21%) homeowners report having a fixed- or variable-rate home equity loan that they are currently paying off.

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 publication also reminds consumers that if they are refinancing or using their home as security for a home equity loan (or for a second mortgage loan or a line of credit), federal law gives them three business days after signing the loan papers to cancel the deal.

Federal agencies publish consumer brochure on predatory lending

You can use a home equity loan to pay it off, replacing credit card debt with lower-rate, tax-deductible home equity debt.

How to profit from low interest rates: with rates at their lowest since the 1960s, times are bounteous for borrowers, lean for lenders. (Money Management)

At the end of a first-mortgage boom cycle, home equity loan volumes pick up.

The appeal of home equity lending

As expectations of future home values rise, homeowners are more likely to assume a home equity loan.

Home equity loans and the business cycle

If so, this regional pattern would be similar to the one that holds for the use of home equty credit: The proportion of mortgage debt holders with a home equity loan in the Northeast is more than twice that pertaining in the South or in the North Central region.

Mortgage refinancing

Think seriously before you opt for home equity loan

Refinancing your mortgage may cost you; think seriously before you opt for a home equity loan