Home Equity Line Of Credit
What is it? A loan providing you with the ability to borrow funds at the time and in the amount you choose, up to a maximum credit limit for which you have qualified. Repayment is secured by the equity in your home. Simple interest (interest-only payments on the outstanding balance) is usually tax-deductible. Often used for home improvements, major purchases or expenses, and debt consolidation.Added By: Riley
The Home Equity Line Of Credit definition has been viewed 45 Time(s)!
Send To Friends!
If you'd like to send the Home Equity Line Of Credit definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Home Equity Line Of Credit. If you need any more information on this term, please don't hesitate to contact us.