Home & Housing

Equity

ˈekwəti

noun

What does Equity mean?

The portion of your home you truly own.

Example sentence

"Each mortgage payment builds equity."

American usage tip

Home value minus loan balance = equity.

Related Home & Housing words

HVAC
Heating, Ventilation, and Air Conditioning system.
Smoke detector
An alarm that detects smoke.
Fixer-upper
A house needing repairs, sold cheaper.
Thermostat
The device controlling home temperature.
Tenant
The person renting a home.
Realtor
A licensed real estate agent.
Renters insurance
Insurance covering a tenant's belongings.
Landlord
The owner who rents property to you.

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