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?
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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...
