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home equity

American

[hohm ek-wi-tee] / ˈhoʊm ˈɛk wɪ ti /

noun

Personal Finance.

the value of the portion of a person’s home that is free of debt, as mortgages, claims, liens, etc., and which the homeowner actually owns, calculated by subtracting the amount owed to lenders from the current market value of the home.

Home equity can increase or decrease significantly with fluctuations in the local real estate market.

Etymology

Origin of home equity

First recorded in 1895–1900

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

Banking conditions were generally stable or improving, the central bank added, although there was some increased demand in credit cards, home equity loans and commercial lending.

From Barron's

We also have $500,000 in home equity.

From MarketWatch

WSJ | Buy Side: Learn how to get the best rate on a home equity loan.

From The Wall Street Journal

One advantage for many retired sellers: They’ve built up sizable home equity they can use from a sale to purchase a subsequent residence.

From MarketWatch

U.S. homeowner households have $35.8 trillion in home equity compared to just $5.3 trillion 30 years ago, he noted.

From MarketWatch

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023