What is Home Equity and How Do You Use It?
If you’re interested in homeownership, “home equity” might be one of those home buying terms that you come across a lot without being entirely sure what it means.
If you think of your home as a pie, your slice of the pie gradually gets bigger, while your lender’s piece gets smaller. Home equity is the value of your piece of pie.
Home equity can be expressed as either a percentage or a cash value.
To return to the bag of cash example, anyone who buys their home outright immediately owns the wh
If you think of your home as a pie, your slice of the pie gradually gets bigger, while your lender’s piece gets smaller. Home equity is the value of your piece of pie.
Home equity can be expressed as either a percentage or a cash value.
To return to the bag of cash example, anyone who buys their home outright immediately owns the wh