home equity
The current market value of a house minus how much is owed on it. A home equity loan borrows against this amount.
Category: Real Estate & Rental Property → Homeowners

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • Home equity — is the value of a homeowner s unencumbered interest in their property, i.e. the difference between the home s fair market value and the unpaid balance of the mortgage and any outstanding debt over the home. Equity increases as the mortgage is… …   Wikipedia

  • home equity — UK US noun [U] ► FINANCE, PROPERTY the amount of money that someone would receive if they sold their house, after paying what remains of the mortgage: »Do you purchase a loan in the UK? In the US, you take out a loan …   Financial and business terms

  • Home Equity — The value of ownership built up in a home or property that represents the current market value of the house less any remaining mortgage payments. This value is built up over time as the property owner pays off the mortgage and the market value of …   Investment dictionary

  • home-equity — adj. Home equity is used with these nouns: ↑loan …   Collocations dictionary

  • home equity — noun The monetary value of a home less the value of any encumbrances, such as liens or mortgages …   Wiktionary

  • Home Equity Protection — generally comes in the form of a contract that pays the buyer of protection if a particular home price index declines in value. The buyer of protection is typically a homeowner that wishes to protect the value of their home [cite web… …   Wikipedia

  • home equity loan — ➔ loan1 * * * home equity loan UK US noun [C] FINANCE, PROPERTY ► a loan that uses your home equity as a guarantee that the money you borrow will be paid back: »We purchased a fixed rate home equity loan with a regular payback period …   Financial and business terms

  • home equity loan — see loan Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. home equity loan n …   Law dictionary

  • home equity line — n: home equity loan at loan Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • home equity line of credit — home equity line of credit: home equity loan at loan Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

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