home equity loan
6
3.7
- noun
- /hoʊm ˈɛkwɪti loʊn/
- Specialized
:
préstamo sobre el capital de la vivienda
- A home equity loan can be a smart choice if you need funds for major home improvements.
Examples
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After discussing their options, they chose a home equity loan to help pay for their child's tuition.
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Because the home is used as collateral, it is usually easier to acquire a home equity loan even with a bad credit history.
Blog text (22) -
Get a home equity loan, start looking into real estate.
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The best they could do was a higher interest home equity loan.
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Consider a home equity loan.
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A home equity loan is a type of loan that is secured by the property itself.
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A homeowner who is still paying off the mortgage on his home can apply for home equity loans.
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In 2007, I borrowed $128,000 through a home equity loan at 6.875%.
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To finance their kitchen renovation, they decided to take out a home equity loan against their property.
Synonyms
A loan that uses the value of your home as security for big costs
A loan that lets you borrow money against the value of your home
How Large
- Specialized
6
3.7
- US
5
3.0
- Specialized
7
2.6
4
3.3
711
1.0
Surface Forms
Morphology
The meaning is directly compositional: combining 'home' (residence) + 'equity' (owner's stake/value) + 'loan' (borrowed money) yields a loan based on the value of one’s home. While the term belongs to finance and may include specifics (security/collateral), the core sense is predictable from the constituents and is expressed similarly across languages, so a learner who knows the parts can infer the meaning.
Etymology
Home equity loan comes from a simple picture: you borrow money using the value already in your house. Think of home as your house, equity as the 'value you own' after paying part of the mortgage, and loan as money you borrow. So the phrase means a loan that uses your home's value as security.