contestada

If you buy a home that costs $100,000, it is currently worth $200,000, and you still owe $50,000 on it, how much equity do you have in the home?

Respuesta :

Samawati

Answer:

$150,000.00

Explanation:

Home equity describes the difference between the appraised value of a home and the outstanding mortgage amount. In other words, home equity equals to estimated current value minus mortgage balance.

In the cases:  Current value $ 200,000

Mortgage balance : $50,000

home equity : =$200,000-$50,000

                        =$150,000.00

Otras preguntas