A homeowner's loan is a type of borrowing that allows homeowners to access the equity in their property. This type of loan is often used for home improvements, debt consolidation, or to finance major purchases. Synonyms for homeowner's loan include home equity loan, second mortgage, and mortgage refinance. Home equity loans are loans where a homeowner borrows against the equity they have built up in their property. Second mortgages allow homeowners to borrow additional funds beyond their initial mortgage. Mortgage refinancing is the process of replacing an existing mortgage with a new one. Regardless of the synonym used, homeowners looking to access funds can explore several options to find the best fit for their financial needs.