Mortgage Glossary
Equity
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
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, and 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.
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