Home Equity Loan Definition

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A home equity loan or line of credit allows you to borrow money using your home as collateral. ... To see the definition of overnight averages click here . Bankrate.com , Copyright 2006 ...
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home equity loan - definition of home equity loan - A loan secured by a primary residence or second home to the extent of the excess of fair market value over the debt incurred in the purchase.
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Definition: home equity loan: A revolving, open-end loan extended under a line of credit and secured by the borrower's residential property. The current market value of a home minus the outstanding ...
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