home equity

English - Turkish

Definition of home equity in English Turkish dictionary

Related Terms

home equity loan

(Finans) Bir ev teminat gösterilerek kullandırılan kredi

If the payments are too high for a mortgage, the buyer can also take out a home equity loan to get more cash to settle his outstanding debts.

English - English

Definition of home equity in English English dictionary

The monetary value of a home less the value of any encumbrances, such as liens or mortgages

Related Terms

home equity loan

(Finans) A loan or credit line that is secured by the equity the borrower has in a home

home equity loan

A fixed or adjustable rate loan amortized over a specified term, secured by the equity in your home Interest paid may be tax – deductible, (consult your tax advisor) Often used for home improvements, investment in other real estate, debt consolidation, auto or boat loans, credit card debt, medical debt, and education loans

home equity loan

– Type of loan that is secured by a mortgage on the borrowers home Typically it is a second mortgage It can be fixed rate loan or an adjustable rate credit line

home equity loan

Technical jargon for a type of second mortgage that allows you to borrow against the equity in your house If used wisely, a home equity loan can help people pay off high-interest, non-tax-deductible consumer debt or meet other short-term needs, such as payments on a remodeling project

home equity loan

home loan: a loan secured by equity value in the borrower's home

home equity loan

A mortgage on the borrower’s principal residence, usually for the purpose of making home improvements or debt consolidation This is closed-end loan repayable in accordance with a fixed schedule

home equity loan

A fixed- or variable-rate loan, secured by a mortgage lien, that allows a homeowner to borrow against equity in their house to pay for repairs or other home improvements, refinance other debt or use for other purposes

home equity loan

A loan secured by a second mortgage on a person's home and characterized by an open line of credit based on the homeowner's equity As a result of the Tax Reform Act of 1986, consumer interest on credit cards, automobile loans, and similar purchases is not deductible when itemizing deductions for federal income tax purposes However, the interest paid on a home equity loan is fully deductible as long as certain guidelines are met, namely that the amount borrowed must be used for home improvements, medical expenses, or education Thus, home equity loans have become very popular in recent years Adding to the popularity is the ease within which such a loan can be made Most lenders will establish a line of credit to the homeowner up to a total loan-to-value ratio of 75 or 80 percent

home equity loan

A fixed or adjustable rate loan obtained for a variety of purposes, secured by the equity in your home Interest paid is usually tax -deductible Often used for home improvement or freeing of equity for investment in other real estate or investment Recommended by many to replace or substitute for consumer loans whose interest is not tax-deductible, such as auto or boat loans, credit card debt, medical debt, and education loans

home equity loan

This is considered a second mortgage It is a lien against the property The transferee can borrow money from this account up to the maximum line of credit There is usually a minimum payment, but the loan can be paid at any time Usually, AECC pays off this loan upon the calculation of the transferee's equity

home equity loan

A loan in which the owner of a property borrows against any remaining equity in the property

home equity loan

Sometimes referred to as a second mortgage or borrowing against your home The loan allows you to tap into your home's built-up equity, which is the difference between the amount your home could be sold for, and the amount that you still owe Homeowners often use a home-equity loan for home improvements, to pay for a new car, or to finance their child's college education A home-equity loan is a good way to borrow money for two main reasons: 1 ) the interest rate is usually one of the lowest loan rates a borrower can get and 2 ) the interest you pay on the loan is usually tax-deductible But taking out a home-equity loan also means the lender can take possession of the home if the loan isn't repaid

home equity loan

a loan that is guaranteed by your home There are two types of home equity loans: the standard home equity loan and a home equity line of credit In a standard home equity loan, a specified amount of money is loaned in a lump sum for a specified period of time A standard home equity loan is also called a term loan, a closed-end loan or a second mortgage installment loan

home equity loan

A loan secured by the equity in a home These loans can be used for home improvements, debt consolidation and other major purchases or expenses Interest paid on the loan may be tax deductible (please consult a tax advisor) See home equity line of credit Home equity line of credit (HELOC) - A line of credit secured by the equity in a home Upon approval, the borrower can usually tap the credit line by writing line of credit checks or getting an advance These loans can be used for home improvements, debt consolidation and other major purchases and expenses Interest paid on the loan may be tax deductible (please consult a tax advisor) See home equity loan Hyperlink/hypertext - A word, phrase or graphic on the Internet that is connected to additional text and graphics When you click on the word or graphic, the additional information appears on your screen Words that are hyperlinked may be underlined or in a different color than the rest of the text

home equity loan

A loan based on the accumulated equity in the property Can be either a lump sum or an equity line of credit, and is usually a junior mortgage

home equity loan

A loan in real estate property that is used to secure or guarantee the amount borrowed Sometimes referred to as a second mortgage or borrowing against your home The loan allows you to tap into your home's built-up equity, which is the difference between the amount your home could be sold for, and any claims held against it

home equity loan

a loan secured by a second deed of trust on a house, typically used as a home improvement loan

home equity loan

A home equity loan gives you a revolving line of credit secured by the value of your house This allows you to use the funds for any other purpose such as the purchase of a second property, or shares or other investments The interest rate is generally higher than a standard variable rate These accounts are not suitable for everyone

home equity loan

A loan product that is secured against a the value of a home (real estate) Most home equity loans are tax deductible

home equity loan

This is a loan against the portion of a home's appraised value on which you do not owe money - basically the value of a home, minus the current balance of any mortgage loan on the property There are primarily two kinds of home equity loans A Home Equity Line of Credit allows you to borrow money, pay it back, and borrow it again as with a credit card account The interest rate can change during the loan A Home Equity Installment Loan typically is for a pre-set length of time at a fixed interest rate

home equity loan

a fixed or adjustable rate loan obtained for a variety of purposes, secured by the equity in your home Interest paid is usually tax-deductible Often used for home improvement or freeing of equity investment in other real estate or investment

home equity loan

Usually a line of credit, also usually a second mortgage from which the borrower can take and replace funds up to a maximum amount as desired Some home equity loans will go as high as 125% of the appraised value of the property

home equity loan

A mortgage on the borrower's principal residence, usually for the purpose of making home improvements or debt consolidation

home equity loan

A mortgage on the borrower's principal residence, usually for the purpose of making home improvements or debt consolidation This is a closed-end loan repayable in accordance with a fixed schedule

home equity loan

A home equity loan is a line of credit secured by your home Also called an "equity loan" or a "second mortgage," the Bank gives you the line of credit and places a second mortgage loan on your home until the debt is paid off Once the debt is paid off, you can apply again for something else

Hyphenation

home Eq·ui·ty

Turkish pronunciation

hōm ekwıti

Pronunciation

/ˈhōm ˈekwətē/ /ˈhoʊm ˈɛkwətiː/