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HELOC

[ hee-lok ]

noun

, Personal Finance.
  1. 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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Word History and Origins

Origin of HELOC1

First recorded in 1960–65

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axolotl

[ak-suh-lot-l ]

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