What is another word for home equity credit?
Pronunciation: [hˈə͡ʊm ˈɛkwɪti kɹˈɛdɪt] (IPA) 
Home equity credit is a loan that is based on the equity or value of a homeowner's property. This term can also be referred to as a home equity loan, a second mortgage, or a home equity line of credit. Other synonyms for home equity credit are equity release, property loan, equity loan, or mortgage equity withdrawal. By using their home as collateral, homeowners can borrow money at a lower interest rate, often for home improvement projects or other large expenses. As with any loan, it is important for homeowners to carefully consider the terms and payback requirements before taking out a home equity credit.
