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And of Interests in Property of Form

And of Interests in Property of Form

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so what truly is equity we all hear it all the time and a lot of people don't actually understand what it truly means I'll break it down for you every month you have a mortgage payment right you're paying your principal amount on the loan and your interest every dollar that you spend every month that goes towards the principal value on your current loan means that you're building more and more equity in the actual value of that house for example if you have a $500,000 house that you put $100,000 down on and you're paying $2,000 on principal every month if you pay five months and you've already put down $100,000 that means that you now have $110,000 of actual equity in a $500,000 asset and you owe the bank 390,000 if at any moment you want to find out how much of your home you actually own what I would do is just start crunching those numbers of your down payment versus what You' paid down on principal and the current market

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