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LendingRisk.com Mortage Industry Dictionary

Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.

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Home Equity

Home Equity is the amount of ownership that the borrower has built up through mortgage payments and property appreciation. A simple equation for determining Home Equity is the current market value of a home minus the outstanding mortgage balance.

See Home Equity Loan
See Second Mortgage

Home Equity Loan

A loan in which the borrowed amount is dependant upon the amount of equity in the borrower's home.

See Home Equity
See Mortgage Loan Purpose Type Overview
See Second Mortgage

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Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.