FT MarketWatch

Home equity line of credit

A method of borrowing in which a homeowner may Borrow against Home equity as needed using a Checkbook or Credit card. It differs from a standard Loan in that the borrowing may be done over a period of time, preventing excess borrowing and limiting Interest costs.

Related Terms: 11 Borrow, Check, Checkbook, Credit card, Car, Credit, Home equity, Interest, Loan, Own, UIT
Other Related Pages: Category: Real_Estate Starting With: H
Additional Related Terms: 10-Q, 10-K, Accelerated Cost Recovery System, Acquisition cost, Adjusted balance method, Asset/equity ratio, Average collection period, Average daily balance method, Accrual of discount, Accrued interest