You have probably heard that many homeowners today have significant equity. But what does that actually mean for you? Home equity is more than just a number on paper. It is a valuable asset that can give you flexibility, options, and the ability to take your next big step with confidence. How Much Equity Does the Typical Homeowner Have? Here’s how equity builds. As you pay down your mortgage and...
If you’ve noticed headlines about falling home prices, you might be concerned about what it means for your home’s value. The reality is that even with minor declines in some markets, most homeowners are still in a strong position because of the equity they’ve built in their homes. The Relationship Between Home Prices and Equity Home equity generally follows the movement of home prices. When prices...