Equity
Equity is the portion of your home's value that you actually own, calculated as market value minus the outstanding loan balance.
What Equity means
It grows through principal paydown and appreciation. You can tap equity with a cash-out refinance, HELOC, or home equity loan. You keep all of it when you sell after paying off the mortgage.
Florida example
A Florida owner with a $450,000 home and a $250,000 balance has $200,000 in equity. After several years of South Florida appreciation, that figure often climbs faster than the mortgage paydown alone.
What you truly own
Equity is the share of your home you actually own. It is your home's value minus what you still owe. Pay down the loan or watch the value rise, and your equity grows.
Florida's rising values have built equity for many owners faster than expected.
Putting equity to work
You can tap equity through a cash-out refinance or a HELOC for renovations, debt payoff, or an investment. Building equity is a key path to wealth.
We show you how much equity you can access. Reach out and we will explore your options.
Related program: Learn more →
Verify the details for your own situation against these government and agency sources: CFPB Owning a Home guide and HUD homebuyer resources.