Home Equity Loan

Business / Taxes / Home Equity Loan: A home equity loan, sometimes called a second mortgage, is secured by the equity in your home. You receive the loan principal, minus fees for arranging the loan, in a lump sum. You then make monthly repayments over the term of the agreement, just as you do with your first, or primary, mortgage. The interest rates on home equity loans are generally lower than the rates on unsecured loans. However, when you borrow against your equity you run the risk of foreclosure if you default on the loan, even if you have continued to make the required payments on your first mortgage.

Other Words for Equity

Equity Noun Synonyms: fairness, impartiality, even-handedness, justice, fair play, objectivity, disinterest, fair-mindedness, equitableness, open-mindedness, disinterestedness, neutrality, tolerance, judiciousness, right-mindedness, high-mindedness
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Other Words for Home

Home Adjective Synonyms: dwelling-place, residence, domicile, abode, dwelling, house, (living) quarters, habitation, lodging(s), accommodation or accommodations, place, digs, diggings
Home Noun Synonyms: (home) base, residency, territory, haunt, home ground, bailiwick, stamping-ground
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Other Words for Loan

Loan Verb Synonyms: advance, allowance, credit, accommodation
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Net Assets (Owners Equity)

Business / Accounting / Net Assets (Owners Equity): The ownership interest in the assets of an entity: equal total assets minus total liabilities. MORE

Negative Equity

Business / Debt / Negative Equity: A situation where the purchaser of a property has taken out a mortgage and some time after the purchase, the value of the property falls below the mortgage amount. MORE

Multifamily Loans

Business / Finance / Multifamily Loans: Loans usually represented by conventional mortgages on multifamily rental apartments. MORE

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