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.

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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 • Jan. 14, 2026

His attorney and fixer at the time, Michael Cohen, took out a home equity loan and paid Daniels $130,000 to keep her mouth shut.

From Los Angeles Times • Mar. 29, 2023

If you have equity, consider a home equity loan or line of credit to finance larger updates, like new solar panels.

From Seattle Times • Feb. 8, 2023

To answer, I lied and said we took out a home equity loan when we actually paid in cash.

From Slate • Oct. 13, 2022

But if she has a solid interest rate, she may be better off taking out a home equity loan or line of credit.

From Washington Post • Sep. 5, 2022