A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- Home EquityThe share of your home you truly own, equal to its market value minus what you still owe on the mortgage.
- EquityOwnership in a company, most often held as shares of stock that represent a claim on its assets and profits.
- MortgageA loan used to buy a home, where the property itself acts as collateral the lender can take if you stop paying.
- RefinancingReplacing an existing loan with a new one, usually to get a lower rate, a different term, or a smaller monthly payment.
- Loan-to-Value Ratio (LTV)The size of your loan compared to the home's value, used by lenders to gauge risk and set terms.
- Interest RateThe percentage a lender charges you to borrow money, or pays you to keep money deposited, over a set period.
Turn this into a brick
Knowing what Home Equity Line of Credit (HELOC) means is knowledge — the first half. A brick gets placed when you act on it.
More in Real Estate
Plain-English education — not personalized legal, tax, or investment advice.