HELOC

American

[hee-lok] / ˈhi lɒk /

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.

Etymology

Origin of HELOC

First recorded in 1960–65

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

See Examples For:

HELOC

Are there particular precautions we should take because of my grandmother’s age, the change in beneficiaries, the HELOC, and the fact that I am accompanying her?

From MarketWatch ● Aug. 20, 2026

Home equity line of credit, or HELOC, rates are variable, while home equity loan rates are fixed.

From Seattle Times ● Mar. 1, 2023

Once I open a HELOC, what’s the best way to go about making renovations?

From Slate ● Oct. 21, 2022

Given the caller’s situation, I wouldn’t recommend a HELOC.

From Washington Post ● Aug. 10, 2022

When you file a Chapter 7 bankruptcy, it terminates your liability on both the primary mortgage and the HELOC.

From Encyclopedia.com ● Jun. 26, 2018

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023