: a loan based on the amount of equity a person has in his or her home
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And, unlike a home equity loan, these homeowners won't need to refinance (and pay for refinancing closing costs) as the HELOC rate will adjust independently with no work required on behalf of the borrower.—Matt Richardson, CBS News, 5 Mar. 2026 Who is a home equity loan best for?—Kelsey Neubauer, CNBC, 21 Feb. 2026 Another financing alternative would be a home equity line of credit or home equity loan, using your current home as collateral.—Liz Weston, San Diego Union-Tribune, 8 Feb. 2026 Mortgage and home equity loan delinquency rates, however, are still near historic lows, though both are starting to slowly rise.—Giulia Carbonaro, MSNBC Newsweek, 23 Oct. 2025 See All Example Sentences for home equity loan