home equity

Definition of "home equity"
  1. The difference between a home's current market value and the outstanding balance on the mortgage
How to use "home equity" in a sentence
  1. She used her home equity to fund her business start-up.
  2. With falling house prices, many homeowners found their home equity shrinking.
  3. He took out a loan against his home equity to pay for home improvements.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z