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• an owner's financial interest in a property which is calculated by subtracting the amount still owed on the mortgage loan(s) from the current market value of the property.

  Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program - Cite This Source - This Definition
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  Cite Definition for equity

  American Psychological Association (APA)

  equity. (n.d.). Making Home Affordable Glossary. Retrieved February 1, 2023, from website: http://www.expertglossary.com/definition/equity.

  Chicago Manual of Style (CMS)

  equity. www.makinghomeaffordable.gov. Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. http://www.expertglossary.com/definition/equity (accessed: February 1, 2023).

  Modern Language Association (MLA)

  "equity." Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. 1 February. 2023 http://www.expertglossary.com/definition/equity.

• 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
  ×

  Cite Definition for equity

  American Psychological Association (APA)

  equity. (n.d.). A Consumer's Guide to Mortgage Refinancings. Retrieved February 1, 2023, from website: http://www.expertglossary.com/definition/equity.

  Chicago Manual of Style (CMS)

  equity. www.federalreserve.gov. A Consumer's Guide to Mortgage Refinancings. The Federal Reserve Board. http://www.expertglossary.com/definition/equity (accessed: February 1, 2023).

  Modern Language Association (MLA)

  "equity." A Consumer's Guide to Mortgage Refinancings. The Federal Reserve Board. 1 February. 2023 http://www.expertglossary.com/definition/equity.

• Browse Related Terms: Appraisal, Appraiser, Closing (or settlement) costs, equity, Financial Models, Good faith estimate, Loan to Value (LTV) Ratio

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