Real Estate Home Mortgages/equity

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Question
what would 3 years of equity equal for a house that is worth 110.000

Answer
Hey John,

Your "equity" in a property is simply what you could sell it for less what you owe on the property.  The value at which you could sell it for is known as market value and can fluctuate with numerous economic conditions.  You can find out this value by contacting a local REALTOR, http://www.realtor.com, or by looking at recent local sales of houses that are comparable to your property.

I hope this helps you determine your equity and please feel free to post a follow up question if you get stuck.

Regards


Ryan Hasselmeier  
About Real Estate Home Mortgages
This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here

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Ryan Hasselmeier

Expertise

Former Mortgage and Insurance Broker in Texas. Originated loans for use as a Primary Residence, Second Home, Investment Property or even Mixed Use. Have brokered loans for Manufactured Homes and even Rural Housing.

Experience

Have been actively involved in the mortgage loan origination industry since 2001 and real estate investment since 1990.

Organizations
Current Chairman of the American Signing Agents Association Inc, a non-profit professional business association of Notary Signing Agents who specialize in real estate settlement transactions.

Education/Credentials
Bachelors of Business Administration in Accounting and Management Information Systems from Sam Houston State University in Huntsville Texas.

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