home equity loan

American  

[hohm ek-wi-tee lohn] / ˈhoʊm ˈɛk wɪ ti ˌloʊn /

Or home-equity loan

noun

Personal Finance.

1. a loan above and beyond a mortgage that a homeowner can take out to generate cash, using the equity in the home as collateral.

---

Etymology

Origin of home equity loan

First recorded in 1980–85

Example Sentences

WSJ | Buy Side: Learn how to get the best rate on a home equity loan.

From The Wall Street Journal

A home equity loan or home equity line of credit might be options if the couple have good credit, sufficient income to make the payments and a cooperative lender.

From Los Angeles Times

He also pleaded guilty to signing off on a home equity loan application that understated his financial liabilities.

From Seattle Times

Others have borrowed against their homes to put cash in their pockets, either with a reverse mortgage, home equity loan or cash-out refinance.

From Seattle Times

If you have equity in your home, you might be able to get a home equity loan or line of credit to help you consolidate or pay down higher-interest debt.

From Seattle Times