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• a way of borrowing money against the equity in one’s home to pay for things such as home repairs, college education, or other personal uses.

  Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program - Cite This Source - This Definition
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  Cite Definition for Home Equity Line of Credit (HELOC)

  American Psychological Association (APA)

  Home Equity Line of Credit (HELOC). (n.d.). Making Home Affordable Glossary. Retrieved May 28, 2023, from website: http://www.expertglossary.com/definition/home-equity-line-of-credit-heloc.

  Chicago Manual of Style (CMS)

  Home Equity Line of Credit (HELOC). www.makinghomeaffordable.gov. Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. http://www.expertglossary.com/definition/home-equity-line-of-credit-heloc (accessed: May 28, 2023).

  Modern Language Association (MLA)

  "Home Equity Line of Credit (HELOC)." Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. 28 May. 2023 http://www.expertglossary.com/definition/home-equity-line-of-credit-heloc.

• Browse Related Terms: Collateral, creditor, Equity stripping, Home Equity Line of Credit (HELOC), Home Ownership and Equity Protection Act (HOEPA), interest, Interest rate, Loan modification activities, Principal, Rate Spread, Servicemen’s Readjustment Act, Truth-In-Lending Act (TILA)

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