One of the many benefits of owning a house is that you can build equity and access it for purposes such as remodeling your kitchen, paying off your credit card debt or covering your children's college tuition. But what is equity?
Equity is the difference between what you owe on your mortgage and what your home is currently worth. If your mortgage loan is $150,000 and your home is worth $200,000, you have $50,000 in equity.
Mike Mills | Verity Mortgage
Branch Manager
NMLS# 756263
1557 E. Broad Street Suite 103, Mansfield TX, 76063
OFFICE: (817) 557-2023
CELL: (817) 689-6079
EMAIL: mike@veritymortgage.com
