Business, Legal & Accounting Glossary
A secured mortgage loan where the homeowner can borrow up to 125 percent of the value of the property, usually at a higher interest. This is considered a very risky, speculative method of home financing. For example, if a home is valued at $100,000, the homeowner would be eligible for $125,000 as a loan.
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This glossary post was last updated: 13th November, 2021 | 0 Views.