What Is the Definition of Equities?

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The definition of home equity is the difference between what is currently owed on a home and the current market value. Use home equity loans to borrow money for new additions or unplanned expenses with advice from a mortgage specialist in this free video on home equity.

Part of the Video Series: Real Estate Financing
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Video Transcript

My name is Stetson Lowe and in this clip we're going to be talking about equity or equities. Equity is ownership in something and in the form in which we are talking about today is home equity. That's the difference between what you owe on your home currently and what the current market value is. The difference or margin there is called equity and that's real value to you as a homeowner that if you were to sell the home would be given to you in cash that you could spend or even often times when you still live in the home you can borrow that home equity to consolidate debts to pay for unplanned weddings that come up or new additions to the house or family members being born, things like that. So you can tap into that equity and use it with a home equity loan or line of credit. Also it is still there when you sell your home, that's the money that you would receive to put down on a new home or to use as you choose.

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