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Meanings and definitions for HELOC
What does HELOC stand for? What does HELOC mean?
- A home equity line of credit, or HELOC (pronounced he-lock), is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's equity in their house (akin to a second mortgage).
- Home Equity Line Of Credit, Used in most banks.
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