definition of home equity loan
Noun. 1. home equity loan-a loan secured by equity value in the borrower's home. equity credit line, home equity credit, home loan. consumer credit-a line of credit extended for personal or household use.oun. 1. home equity loan-a loan secured by equity value in the borrower's home. equity credit line, home equity credit, home loan. consumer credit-a line of credit extended for personal or household use.