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How to Qualify for an FHA Loan
What Is Equity?
How to Determine Home Equity
About Home Loans
When to Refinance Your Home Equity Line of Credit
Best Ways to Pay Off a Home Equity Loan Line of Credit
Compare Home Equity Lines of Credit
Are Home Equity Lines of Credit Tax Deductible?
How Is the Rate Determined for a Home Equity Line of Credit?
How Can a Home Equity Line of Credit Be Beneficial?
What Is a Good Use of a Home Equity Line of Credit?
Penalty for Early Termination on a Home Equity Line of Credit
Why Banks Are Freezing Residential Home Equity Lines of Credit
Equity is basically the amount of a home that is not leveraged by a mortgage. Learn about the differences … More
Knowing how to build equity in your home can save money over the long run, as you'll pay less interest on … More
Home equity security is essentially based on the principle that more equity means more security. Find out … More
Home equity loans allow you to borrow money by using your house or property as collateral. Because of the … More
Home equity loans are any money real estate has accrued over the time you have owned the property. So how… More
The home equity loan process generally begins with an appraisal of the house, followed by the underwriting… More
A home equity loan can be the perfect answer for a person with little income and a large amount of debt. H… More
If you're a homeowner, your mailbox is most likely consistently flooded with offers for home equity loans.… More
Using home equity, which is calculated by the value minus the mortgage balance, can be done by applying fo… More
A home equity line of credit can be used for a variety of reasons, including debt consolidations and home … More
Home equity loans (often referred to as second mortgages in situations where the borrower has a primary mo… More
A home equity loan can be a smart move for getting money using the equity within your home. Although the i… More
Home equity loans may seem like a potential windfall, but as many Americans have discovered, borrowing on … More
Getting a home equity loan on a house that will be rented out involves having at least 20 percent equity i… More
A home equity loan is a line of credit based on your home's value. It is often a much more affordable opti… More
Summary: Equity is basically the amount of a home that is not leveraged by a mortgage. Learn about the differences between what is owed on a mortgage and true market value with help from a financial specialist in this free video on home loans and money management.
Matthew McKillen brings 21 years of industry experience in arranging loans for his clients. He has worked in financial services senior management positions in mortgage banking...read more
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"When working with a first time home buyer, I'm asked a variety of questions relating to purchasing a home or owning a home. Hi, my name is Matt McKillen, I'm with Innovative Financial Group. One of the questions that's been posed to me is what is equity? Now I'll give you a brief definition of what equity is. Equity is basically the amount of your home that's not leveraged by a mortgage. Now to explain that in an easier term and to calculate it, basically if you had a 200,000 dollar home for example and let's say you only owe 100,000 dollars on your mortgage to your bank. The difference between the loan that you owe and how much your home is worth or could see for is basically 100,000, that is what determines what your equity is. It's basically the amount of the value of your home minus whatever you owe in liens on the property. So when someone is talking about their equity position in the property, again it's the different between what they owe on their mortgage and how much or the true market value of their property. Thanks for asking the question, my name is Matt McKillen with Innovative Financial Group."
eHow Article: What Is Equity?
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