Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Home Equity Loan Home Equity Loan November 9, 2021 A loan secured by a subordinate mortgage on one’s principal residence, generally to be used for some non-housing expenditure. A traditional home equity loan provides lump-sum proceeds at the time the loan is closed.You Might Also Like: All Things CommunityReviewing Random Acts of Kindness 2023 Everyday MoneyWhat are ACH Payments and How Do They Work? Family MattersFun Games to Teach Kids About Money Everyday MoneyWhat is the Difference Between a Credit Card and a Debit Card? Family MattersBudget Friendly Easter Basket Ideas
