2006-10-09 05:36:32 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Equity is the amount of a piece of property that you own.
For example, if you have a house that has a mortgage of $100,000 and you have paid $17,000 - then you have $17,000 equity in the house.
2006-10-09 05:39:45 · answer #1 · answered by words_smith_4u 6 · 0⤊ 0⤋
It is the value of an item less the loan amount on the item.
For example:
House A:
$100,000 Value of Property
(75,000) Less: Remaining Principal of Mortgage
$ 25,000 Equals: Equity
2006-10-09 12:43:37 · answer #2 · answered by Wayne Z 7 · 0⤊ 0⤋
Equity is the difference between the value of the house and how much you owe on the balance of your mortgage. If you have a 500,000.00 house and only have 250,000.00 remaining on your mortgage, you have 250,000.00 of equity in the property.
2006-10-09 12:41:19 · answer #3 · answered by dougzinboston 4 · 0⤊ 0⤋
Market value minus any mortgages on the property.
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2006-10-09 12:53:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
that is how much you have paid of on what ever you have a loan on not counting the interest
2006-10-09 12:43:46 · answer #5 · answered by raudidave 3 · 0⤊ 0⤋