Definitions for "Home-equity loan"
Keywords:  tap, writeoff, intoyour, equity, jargon
A loan offered by banks and other mortgage lenders that allows a homeowner to tap the built-up equity in his or her home. Home-equity loans allow you to borrow a certain amount and pay it back over a specified term, and they generally carry low fixed interest rates. Interest payments on up to $100,000 of home-equity debt are also tax-deductible. (That is on top of the interest writeoff you get on mortgage loans of up to $1 million.) If you're thinking of consolidating your debt, taking out a home-equity loan is an effective means.
a good idea if you know exactly how much you'll need and if you want to borrow the entire amount at once and pay it back later, usually at fixed interest rates
a loan in which you use your home as collateral for
Keywords:  lien, second, house
a second lien against a house