Home Equity

Glossary

Banking

Home Equity

Home equity is the equity homeowners have in their homes i.e. the market value in excess of any loan or mortgage against it. Home equity loans a.k.a. second mortgages, are secured loans taken out against the equity in homes. The original mortgage lender has a first lien over the property; the home equity provider will have a second lien on the property.

logo-animationlogo-animationlogo-animation

Related terms