PTIN Seal

Mortgages & Loans

  1. PTINdirectory
  2. Tax Knowledge Database
  3. Mortgages & Loans
  4. What is a Home Equity loan?

What is a Home Equity loan?

A home equity loan is a mortgage on the your principal residence or second residence or vacation home. You are tapping into the built up equity in your house. It usually is for the purpose of making home improvements or other non-housing expenditures such as credit card debt consolidation or tuition. This is a closed end loan repayable in accordance with a fixed payment schedule.

Need Professional Help?

If you need help with "Mortgages & Loans" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.