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home equity
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home equity


We think we have enough home equity, that if we sell our home, we would have a 20% down payment for the new home.
  the difference between the price for which a home could be sold (market value) and the total debts registered against it
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Samples:
  • We think we have enough home equity, that if we sell our home, we would have a 20% down payment for the new home.
  • Does he have a big fat mortgage hanging over his head, with twenty-seven years to go on the first and twenty-five on the home equity line of credit, which is set at prime plus one and constantly spiking? I make good money for a newspaper guy and we live very nicely, but the crazy California real estate market eats a big chunk of my take-home, and Alison has cut back on her work to enjoy Caroline’s early years.
    Steve Lopez  --  The Soloist
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Associated words [difficulty]:   home equity [9] , mortgage [2] , adjustable rate loan [9]
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Most commonly used in these subjects:   Personal Finance, Business, Law
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