Definition of 'lilt'. Word Frequency. lilt (lÉªlt ) singular noun. If someone's voice has a lilt in it, the pitch of their voice rises and falls in a pleasant way, as if they were singing. Her voice is child-like, with a West Country lilt.
Home Equity Loans. A home equity loan is a loan for a fixed amount of money that is secured by your home. You repay the loan with equal monthly payments over a fixed term, just like your original mortgage. If you donât repay the loan as agreed, your lender can foreclose on your home.
A home equity loan is a second mortgage. Rather than refinance the entire allowable home value into one loan, the home equity loan is a cash-out loan for the amount of equity being taken out. For example, if your home is valued at $700,000 and your first mortgage balance is $490,000, you have a 70 percent loan-to-value ratio. If you are allowed to borrow up to 80 percent LTV, you can get a home equity loan for $70,000, the extra 10 percent. This is a fixed loan with fixed terms. Structuring the refinance in this manner prevents triggering premium mortgage insurance and also preserves favorable loan terms for the first mortgage.