home equity loan

noun

: a loan based on the amount of equity a person has in his or her home

Examples of home equity loan in a Sentence

Recent Examples on the Web Dockworkers at East and Gulf Coast ports steaming toward a strike How much will a $150,000 home equity loan cost per month now that rates are falling? Aimee Picchi, CBS News, 1 Oct. 2024 Advantages of using home equity loan to pay for college —Potentially cheaper: Home equity loans and HELOCs typically offer lower interest rates than personal or private student loans, because your home is backing the debt. Tribune News Service, The Mercury News, 13 Sep. 2024 As of July 10, the average home equity loan rate is 8.6%, according to Bankrate, while the average HELOC rate is 9.2%. Daniel De Visé, USA TODAY, 16 July 2024 What's the home equity loan interest rate forecast for fall 2024? Megan Cerullo, CBS News, 13 Aug. 2024 See all Example Sentences for home equity loan 

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'home equity loan.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

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Cite this Entry

“Home equity loan.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/home%20equity%20loan. Accessed 5 Oct. 2024.

Legal Definition

home equity loan

see loan

Last Updated: - Updated example sentences
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