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Question 3 of 10

The difference between the value of a home and how much you owe on the mortgage is called:

A. a line of credit
B. appreciation
C. amortization
D. equity

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Answer :

GinnyAnswer

Final answer:

Equity in a home is calculated as the market value of the house minus the mortgage amount.


Explanation:

Equity in a home refers to the market value of the house minus the amount owed on the mortgage. For example, if a house is worth [tex]$200,000 and $[/tex]180,000 is still owed on the mortgage, the equity would be $20,000.


Learn more about Home Equity here:

https://brainly.com/question/42632062


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