Equity is the percentage of the appraised value of your property that has not been used as collateral. Therefore, if you own $100,000 house and has 60% mortgaged, your equity is 40%, which is $40,000. Equity mortgage is not a “home equity line of credit” nor a “traditional mortgage”. Equity mortgage allows borrower to borrow [...]
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Equity is the percentage of the appraised value of your property that has not been used as collateral. Therefore, if you own $100,000 house and has 60% mortgaged, your equity is 40%, which is $40,000. Equity mortgage is not a “home equity line of credit” nor a “traditional mortgage”. Equity mortgage allows borrower to borrow [...]
Filed under: Equity Lending, FAQ | Leave a Comment »
