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- In housing markets, equity is the difference between the fair market value of the home and the outstanding balance on your mortgage plus any outstanding home equity loans. In vehicle leasing markets, equity is the positive difference between the trade-in or market value of your vehicle and the loan payoff amount.
The Federal Reserve Board - Cite This Source - This Definition
- The value in your home above the total amount of the liens against your home. If you owe $100,000 on your house but it is worth $130,000, you have $30,000 of equity.
Federal Trade Commission - Cite This Source - This Definition
- The value of a property beyond any liens against it. Also referred to as owner's interest.
Ginnie Mae - Cite This Source - This Definition
- An owner's financial interest in a property; calculated by subtracting the amount still owed on the mortgage loon(s)from the fair market value of the property.
US Department of Housing and Urban Development - Cite This Source - This Definition
- The market value of real property, less the amount of existing liens. Equity build-up is the reduction of principal on a mortgage or deed of trust by periodic payments, which increases (builds-up) the difference (equity) between the property value and amount of the lien.
U.S. Census Bureau - Cite This Source - This Definition
- Appraisal, appraisal fee, Appraised Value, Appraiser, Comparables, Comparative Market Analysis (COMPS), Eminent Domain, Fair market value, market value, property appraisal