BorrowingAgainstHomeEquity

Lifestyle

How Much Equity Can I Borrow From My Home?

Understanding Home Equity Home equity refers to the portion of your property that you actually own. It is the difference between the current market value of your home and the outstanding balance on your mortgage. For example, if your home is worth $500,000 and you have a remaining mortgage balance of $300,000, your home equity would be $200,000. Home equity…