home equity credit
- noun
- Specialized
:
crédito sobre el capital de la vivienda
- She decided to consolidate her loans by taking out home equity credit from her bank.
- home equity credit line
Examples
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Many homeowners use home equity credit for renovations.
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Applying for home equity credit requires a thorough assessment of your property's value and equity.
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Many homeowners use home equity credit to finance renovations or pay off high-interest debt.
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Are you considering a home equity credit for your new kitchen?
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You can use a home equity credit line to finance your home renovations.
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Many people choose a home equity credit line to cover major expenses like tuition or medical bills.
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Before applying for a home equity credit, make sure you understand the terms and potential risks.
Synonyms
6
3.7
A loan that uses the value of your house to get money for big expenses
A loan that lets you borrow money against the value of your home
Surface Forms
Morphology
The noun phrase is transparently built from its parts: 'home equity' denotes the owner's stake in a house and 'credit' denotes a loan, so together they straightforwardly indicate a loan secured by the home's equity. This follows a regular noun–noun compounding pattern found across languages, so a B1 learner who knows the constituent words should be able to infer the meaning despite its technical financial register.
Etymology
Home equity credit comes from the idea of using your home and the part of its value you own, the equity, to get a credit or 'loan'. So, it means a 'loan' that uses your house's value as a guarantee.