What is another word for homeowner loan?
Pronunciation: [hˈə͡ʊmə͡ʊnə lˈə͡ʊn] (IPA) 
When considering a homeowner loan, it may be useful to explore synonyms for this type of financing. For instance, a homeowner loan may be referred to as a home equity loan, which uses the borrower's equity in their property as collateral. Another phrase commonly used to describe this type of loan is a second mortgage, which means the loan is taking a second lien position on the property. Additionally, some may refer to a homeowner loan as a secured loan, as it is backed by the property being borrowed against. Whatever term is used, it is important to research and fully understand the terms and conditions, as well as the potential risks and benefits, before taking out a loan.
