The portion of a home’s value that the owner truly owns, calculated as the market value minus any outstanding mortgage or liens. For example, a home worth $300,000 with a $200,000 mortgage has $100,000 in equity..
The portion of a home’s value that the owner truly owns, calculated as the market value minus any outstanding mortgage or liens. For example, a home worth $300,000 with a $200,000 mortgage has $100,000 in equity..