Posted on: 03rd Dec, 2007 07:41 pm
Is my down payment part of equity?
Hi Caymanss,
Yes, your down payment is part of your equity and the way you determine the amount of equity that you have is by taking the current value of your home and subtracting the amount you owe on it.
So your equity changes daily...and these days, it can be dramatic. But in a normal selling market, it should steadily increase over time.
Yes, your down payment is part of your equity and the way you determine the amount of equity that you have is by taking the current value of your home and subtracting the amount you owe on it.
So your equity changes daily...and these days, it can be dramatic. But in a normal selling market, it should steadily increase over time.
you add value
basically your equity is the difference between your home value and the amount you owe for the home
basically your equity is the difference between your home value and the amount you owe for the home
Yes, equity is the difference between the home value and what you owe on it.
