Banking terms starting with H

4 terms

1. High net worth individual Any individual whose net worth is greater than $2 million immediately before the transaction.
2. Hold Used to indicate that a certain amount of a customer's balance may not be withdrawn until an item has been collected, or until a specific check or debit…
3. Home Equity Line of Credit (HELOC) A line of credit secured by the equity in a consumer's home. It can be used for home improvements, debt consolidation, and other major purchases.
4. Home Equity Loan A home equity loan allows you to tap into your home's built-up equity, which is the difference between the amount that your home could be sold for and the…