Samara is a female given name. It is of Hebrew and Arabic origin, and its meaning is guardian or protected by God. The section History and Origin of this page contains content from the copyrighted Wikipedia article Samara (given name); that content is used under the GNU Free Documentation License (GFDL).
A home equity loan is basically a second mortgage on the home you are already purchasing. If you already own the home free and clear it will be your only mortgage but will still be considered a home equity loan. Equity means the portion of the home that you own that is not mortgaged.ome banks may allow you to redo the entire equity loan and add to it, providing you have paid down enough, and the loan doesn't exceed the equity you own in the home. The second type of home equity loan is a revolving line of credit. This one works just like a credit card.
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.