HOME EQUITY LOAN Definition

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HOME EQUITY LOAN is a type of loan in which the borrower uses the equity in their home as collateral. These loans are sometimes useful to help finance a business, major home repairs, medical bills or college education.

Learn new Accounting Terms

GOLDEN RULES OF ACCOUNTING are: 1. Debits ALWAYS EQUAL Credits; 2. Increases DO NOT NECESSARILY EQUAL Decreases; and, 3. Assets - Liabilities = Owners Equity (The Accounting Equation).

APPLICATION RATE is the quantity (mass, volume or thickness) of material applied per unit area.

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