September 2024 REAL ESTATE NEWS Brought to you by Dan and Lisa Basil . Home Equity 101: Understanding and Using Your Biggest Asset Home equity is a strong financial asset that homeowners can use in many ways. It represents the difference between the current market value of your home and the outstanding balance on your mortgage. As you pay down your mortgage and as your home's value appreciates, your equity grows, creating a valuable financial resource. Did you know you can use your home equity for various purposes? According to latest research , three out of five home loan holders have at least $100K in tappable equity (the sum a borrower can access while keeping a healthy 20% equity cushion). Here are some ways you can make the most of your home equity: Home Renovations: Enhance your living space and raise the value of your home to boost your equity even more. Consolidation of Debt: Consolidate ...