Discover your real home equity
Stay up-to-date as your home value changes and you pay your mortgage.
What is home equity?
Home equity is the portion of your home that you actually own, calculated as the difference between the current value of your home and the amount you still owe on your mortgage.
Your home equity grows when:
- You make mortgage payments
- Your property value increases
This equity can be utilized for various purposes such as home improvements, consolidating debt, or even purchasing another property. It represents your ownership stake in your home and can provide financial flexibility when needed.
Why is home equity important?
It opens up opportunities and provides financial flexibility. Home equity gives you access to funds for various purposes, like renovating your home, paying off high-interest debt, educational expenses, or funding retirement. It offers a sense of security and long-term financial stability, while enabling homeowners to achieve their goals.
Did you know?
Home equity in the United States
+ 248%during in the past 10 years.
Source: Board of Governors of the Federal Reserve System (US)