Core
Equity
The difference between your home value and what you owe
Full Definition
Equity: The difference between your home value and what you owe. Understanding this concept is important when navigating the mortgage process. NMHL loan officers can explain how equity applies to your specific mortgage situation.
Why It Matters
Understanding equity helps you make informed decisions about your mortgage. This knowledge can save you money and help you avoid common pitfalls in the homebuying process.
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Frequently Asked Questions
Equity refers to the difference between your home value and what you owe. This is an important concept in mortgage lending that affects how your loan works.
Understanding equity can help you make better decisions about your mortgage. Contact NMHL for personalized guidance on how this applies to your situation.
Ready to Put This Knowledge to Work?
Connect with an NMHL mortgage expert who can help you navigate the mortgage process.