Posts Tagged ‘home equity loans’

What Does the Word “Equity” Mean?  Equity is the difference between your home’s current appraised value and your mortgage balance. For example, if your home appraises for $200,000, and you owe $100,000, your equity is 50 percent. You can also think of it this way:  equity is a term used to refer to the market…

A home equity loan is a type of loan that enables homeowners to borrow money by using their home as collateral. The amount of the loan a borrower is eligible for is determined by the difference between your home’s market value and the remaining mortgage balance. It can be a viable option for people to…