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Archive - March 2022

5 tips to build equity in your home

5 Tips to Build Equity in Your Home

Posted On: March 1, 2022 by Prevail Bank in: Home Loans

What does equity in a home mean?

Home equity is the difference between the balance on your mortgage and the current value of your home. For example, if you have $225,000 left on your mortgage and the present value of your home is $310,000, you have $85,000 of equity in your home.

Is equity in a house good?

Equity is important because it is considered an asset and counts toward your total net worth.

As long as you’re paying down your loan and the market value of...
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Tags: Home Equity, Mortgage Tips


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