Home equity is calculated by subtracting the balance owed on a home loan from the total value of the home; for example, a home valued at $200,000 with a $120,000 loan balance results in $80,000 of equity.

Authors

• Person: Not available Organization: Spero Financial
  Understanding the Four Pillars of Personal Finance - Spero Financial

Sources

• Understanding the Four Pillars of Personal Finance - Spero Financial spero.financial Spero Financial via serper

Referenced by nodes (1)

• home equity concept