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This video explains what home equity is, explains the factors that increase or decrease home equity, and provides a formula to calculate home equity.

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#Buy a #home #Mortgage #Loans #RealEstate #Morgagebroker
how to #finance a #house or #land

Comments

  • Great content, please speak louder or bring the microphone in closer up turn up the mic sensitivity, very hard to hear. Great stuff though explained perfectly.

  • Excellent video, explained fantastically for people who are completely new to real estate and its terminology and jargon. Very good.

  • I love you man. You explain this well to me. I play on purchasing my first home and this will help me out a lot thanks!

  • question: if I put a 10k downpayment on a 100k house, I now have 10k of equity. Can I take the 10k equity I used on the downpayment out to put on another downpayment of a 100k house and rinse and repeat? I don't know much about loans but would like to know. cheers

  • question: if I put a 10k downpayment on a 100k house, I now have 10k of equity. Can I take the 10k equity I used on the downpayment out to put on another downpayment of a 100k house and rinse and repeat? I don't know much about loans but would like to know. cheers

  • This was very insightful. Can you possibly do a video on cash out refinance vs. HELOC and the negatives/ positives to both? I am really trying to grasp the cash out refinance aspect. Thanks!

  • Hi there, this video was extremely helpful. I just have a quick question: why is the home equity the FMV- the remaining the principal, if the equity is also affected by whether the home value has appreciated or depreciated? For example in the video, after the home value had increased by $3,000 and the owner had paid $100 on the principal, the home equity went from $10,000 to $13,100. But if we go by that formula then the equity would only be $10,100, because only 100 dollars was paid towards the principal. I guess what I am asking is, why isn;t the appreciate or depreciation of the home value included in calculating the equity, and if it is, why does FMV- the remaining principal not reflect that?

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