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What does equity mean

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what does equity mean

Equity means ownership. Your equity in your home is the difference between what you owe on your home and what your home is worth on the open market. However, “ equity ” in this context means (according to kikine-ptp.eu), “The monetary value of a property or business beyond any amounts. Home equity is the value of a homeowner's interest in a home. So how do you increase your equity? That means your first (purchase) mortgage plus any additional loans you take on must be less than 80 percent of the appraised value.

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