Homeowner equity refers to the difference between the current market value of a home and the amount of money that is still owed on the mortgage. It is basically the part of the home's value that belongs to the homeowner, representing their ownership stake or investment in the property.
Full definition
Synonyms for individual words can be found below.
«homeowner»
«equity»
Sentences with «homeowner equity»
- Homeowners Equity Loan Contracts (HELOC's) allow the homeowner to set up a sort of line of credit. (badcreditloanservices.com)
- The combination of rising loan - to - value ratios at mortgage origination and falling housing prices in recent years has led to substantial growth in negative homeowner equity, the authors explain. (newyorkfed.org)
- Rising home values have brought homeowner equity to its highest level since the third quarter of 2008 and helped lift 1.3 million families above water. (rismedia.com)
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