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Houston Mortgage > Glossary > Real Estate > E 1-10

Equity
This is the dollar amount of your home that you really own. You can calculate your equity by taking the market value of your home and subtracting out the debt that is secured by your home. For example, if your house is worth $150,000 and you owe $65,000 on a first mortgage and $15,000 on a home equity line of credit. You would take $150,000 - $80,000 (65,000 + 15,000) to arrive at $70,000 in equity.
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