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Home Equity

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

 

When you build home equity, you're growing your total net worth. In our latest MLO feature blog, Mike discusses what equity is, why it's good, and 5 ways to build equity in your home.

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.

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Tags: Home Equity, Mortgage Tips

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