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HELOC

[ hee-lok ]
/ ˈhi lɒk /
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noun Personal Finance.
home equity line of credit: a loan in which the borrower receives a line of credit, typically for a period of five to ten years, that can be drawn on as needed, using the equity in a home as collateral.
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Origin of HELOC

First recorded in 1960–65
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
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