Home Equity Line Of Credit

An open-ended line of credit based on a homeowner’s accumulated equity. Most loan amounts are limited to 75 to 85 percent of home’s appraised value; withdrawals can be made at any time within the credit line’s guidelines.

Related Terms:

  1. Building Line or Setback
  2. Credit Repository
  3. Fair Credit Reporting Act
  4. Home Equity Conversion Mortgage
  5. Home Equity Loan

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