Value accumulated in a property through payments on the principal of the property's mortgage.
The part of your home you actually own, or the home's current market value minus the amount you still owe. See also home equity loan.
a great way to improve the value of your house
a loan secured by a main residence or second home to the degree of the excess of fair market value over the debt acquired in the purchase
a loan that is secured against your home's equity
the value of a home minus any debt against it
a second mortgage loan that allows a homeowner to access the accumulated equity in the home. The loan may be set up as a traditional second mortgage or as a line of credit. The traditional loan provides a lump sum when the loan is closed, whereas the line of credit gives the borrower the right to draw cash over time as needed.
The amount of cash value remaining in a real estate property. If a home has a market value of $150,000, and currently has a loan against it for $120,000, it is said to have the difference of $30,000 equity untapped. Some high risk lenders will even allow a borrower up to 125% of the value of the property. In the same example this home would have instead of only $30,000 equity, the lender would be willing to make a second mortgage over and above its $150,000 value for an additional $37,500 to the previous $30,000.
The current market value of a home minus any outstanding liens or mortgage balances. For example, if your homes' market value is $100,000 and you owe $60,000 on your mortgage, then you have $40,000 equity in your home.
Build Equity Equity Line Home Equity Loan
Line of Credit-- A loan providing you with the ability to borrow funds at the time and in the amount you choose, up to a maximum credit limit for which you have qualified. Repayment is secured by the equity in your home. Simple interest (interest-only payments on the outstanding balance) is usually tax-deductible. Often used for home improvements, major purchases or expenses, and debt consolidation.
Home equity equals the appraised or market value of your home less any mortgage balances.
The current value of your home, minus the total amount of mortgage debt on the home. This amount represents the share of your home that you owe outright. If you owe no mortgage debt, the value of your home is entirely your equity. Home equity is often used as a source of borrowing for homeowners. Home equity is not a static amount. It increases as you pay off your mortgage loan, and if your home value rises. It decreases if you borrow more against the value of your home, or your value declines. For example, if your home is appraised with a market value of $100,000, and you have mortgage debt of $60,000, your home equity if $40,000.
A mortgage loan or line of credit that allows the borrower to draw cash against the equity of the home.
The difference between the present market value of a home and the amount of any outstanding mortgage or mortgages.
Is the current market value of a home minus any outstanding liens a mortgage balance.
A mortgage's unpaid principal subtracted from the home's current market value.
The difference between a property's current market value and the sum of all claims against it. For example, a homeowner with a house currently valued at $200,000, and carrying a $150,000 mortgage, has $50,000 in equity. Home equity is included in the calculation of financial aid eligibility.
An owner's financial interest in a property at a specific moment in time. Equity is calculated by subtracting the amount still owed on all outstanding loans against the property from the then fair market value of the property.
The difference between the price for which a home could be sold (market value) and the total debts registered against it.
The difference between the value of your house and what you still owe on your mortgage.
The part of the home's value that the borrower owns outright. It is the difference between the fair market value of the house and the principal balances of all mortgage loans for that property.
The value of a homeowner's unencumbered interest in their property(s). Equity is the difference between the home's fair market value and the unpaid balance of the mortgage and any outstanding debt over the home. Equity increases as the mortgage is paid or as the property enjoys appreciation.
The unencumbered value of an owner's home. Equity is calculated by subtracting any liens and unpaid mortgage principal from the fair market value of the home. Equity increases as loans are paid down and the home increases in value.
The difference between the current value of the house and the amount of money owed on the mortgage. Read more...
The portion of a property's value that the mortgage borrower owns outright. Essentially, it is the difference between the fair market value (selling price) of the home and what is left owing on all mortgages.
the value of a home, subtracting any money owed on it.
Current home value minus the amount still owed.
The current market value of the home minus the mortgage's unpaid principal (based on market value).
The difference between the current market value of a home and the claims against it.
the difference between a home's value and the mortgage.
The current market value of a house minus any outstanding mortgages or liens. For example, a house valued at $200,000 with a $140,000 balance on a mortgage has $60,000 worth of home equity.
the homeowner's share of the accumulated value in the home; the monetary value of the home that belongs to the homeowner after mortgages and creditors' claims are deducted.