You’ve probably heard people throw around the word “equity” when they’re talking about homeownership. You might have heard someone say that owning a home helps you “build equity” or perhaps you heard someone talk about “borrowing against equity.”
But what exactly is equity? And why does it matter?
What Is Equity?Equity is what you own, minus what you owe. It’s the percentage of your home value that belongs to you free and clear.
If your home is wort... read more