Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Line of Credit Line of Credit November 9, 2021 An agreement by a financial institution to extend credit up to a certain amount for a certain time to a specified borrower.You Might Also Like: Family MattersPreparing Financially for a Baby Everyday MoneyBudget Friendly Ideas for Thanksgiving Everyday MoneySenior Discounts and Savings Everyday MoneyStarting an Emergency Savings Account Living QuartersQuestions to Ask Your Home Inspector