home equity
Property ownership share
Home equity is the portion of a home's value that the owner actually owns—the market value minus any outstanding mortgage balance.
If your house is worth $400,000 and you owe $250,000, you have $150,000 in home equity.
Homeowners can borrow against this equity through home equity loans or lines of credit: We took out a home equity loan to renovate the kitchen.
- loanBorrowed money repaid later
- mortgageSecured home loan
- cash outConvert assets to money
- investmentDeploying capital for returns
- ownershipLegal right of possession
collateral · foreclosure · real estate · refinance · closing costs · underwater · borrowing · debt-to-income ratio · property appraisal · housing market · housing bubble · credit · amortization · assets · property · property value · lender · interest
- debtdebt, creditor, owe, debtor, lender
- housingapartments, house, houses, apartment, condo
- assetsproperty, cash, money, investments, bank accounts
- real estatehouse, apartment, property, sale, rent
- funding sourcesloans, savings, grants, donations, scholarships
- suburbiasuburb, suburbs, suburbia, burbs, subdivision
home equityunderwater mortgage
Loan exceeding property value
negative equity · home loan · second mortgage · home equity loan
home equitydebt
Money owed another
liability · indebtedness · financial obligation · consumer debt · credit card debt
home equityrent payments
Money owed for housing
renting · leasing · rental housing · renter · dead money
home, homeless, equity, homes, homely, hometown, homeowner, homecoming, homelessness