Home Equity
The value of ownership built up in a home or property that represents the current market value of the house less any remaining mortgage payments. This value is built up over time as the property owner pays off the mortgage and the market value of the property appreciates. Investopedia Says:
Home equity represents one of the largest sources of net worth for most investors. Home equity can be borrowed against through a home equity loan or home equity line of credit (HELOC). Related Terms:
100% Mortgage
Gift Of Equity
Home Equity Conversion Mortgage - HECM
Home-Equity Loan
House Poor
McMansion
Mortgage
Negative Equity |