Definitions for home equity
home eq·ui·ty

WiktionaryRate this definition:0.0 / 0 votes

1. home equitynoun

   The monetary value of a home less the value of any encumbrances, such as liens or mortgages.

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1. Home equity

   Home equity is the market value of a homeowner's unencumbered interest in their real property—that is, the difference between the home's fair market value and the outstanding balance of all liens on the property. The property's equity increases as the debtor makes payments against the mortgage balance, and/or as the property value appreciates. In economics, home equity is sometimes called real property value. Technically, home equity has a zero rate of return and is not liquid. Home equity management refers to the process of using equity extraction via loans—at favorable, and often tax-favored, interest rates—to invest otherwise illiquid equity in a target that offers higher returns. Home owners acquire equity in their home from two sources. They purchase equity with their down payment, and the principal portion of any payments they make against their mortgage. They also benefit from a gain in equity when the value of the property increases. Investors typically look to purchase properties that will grow in value, causing the equity in the property to increase, thus providing a return on their investment when the property is sold. Home equity may serve as collateral for a home equity loan or home equity line of credit. Many home equity plans set a fixed period during which the person can borrow money, such as 10 years. At the end of this “draw period,” the person may be allowed to renew the credit line. If the plan does not allow renewals, the person will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period, for example, 10 years.

How to pronounce home equity?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say home equity in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of home equity in Chaldean Numerology is: 3

2. Pythagorean Numerology

   The numerical value of home equity in Pythagorean Numerology is: 3

Examples of home equity in a Sentence

1. Alanna McCargo:

   For black and Latino families, the majority of their wealth is in home equity. That is the asset that allows for the most wealth building and the preservation of that is critical. we need to make sure they can get the loan modification, reduce their rate, and keep the property.

2. Rue Simmons:

   It is a $25,000 direct benefit to build wealth through home equity, black Residents that lived in Evanston during the period of harm, which was 1919 - 1969, or their direct descendants are eligible.

3. Alanna McCargo:

   All housing policy right now should be about keeping people in their homes, for black and Latino families, the majority of their wealth is in home equity. That is the asset that allows for the most wealth building and the preservation of that is critical.

4. Edward Jones analyst Jim Shanahan:

   RBC has a fair bit of exposure to residential mortgage loans in Alberta and the Prairies. We're a little bit more concerned about uninsured mortgages and uninsured home equity loans.

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Home_Equity
2. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=home equity