10/25/2026
Home equity is the portion of your home you truly own: your home’s current market value minus what you still owe on your mortgage. For example, if your home is worth $400,000 and your loan balance is $250,000, you have $150,000 in equity.
How does it grow? Two ways. Every mortgage payment chips away at your loan principal, and as property values rise, your equity rises with them. Improvements like a kitchen remodel or new roof can boost value too.
Why does it matter? Equity is one of the most powerful wealth-building tools homeowners have. When you sell, it’s the money that goes in your pocket and often becomes the down payment on your next home. You can also tap into it through a home equity loan, HELOC, or cash-out refinance to fund renovations, education, or other goals.
Curious how much equity you’ve built? Reach out for a free home valuation. I’d love to help you see what your home is worth in today’s Lowcountry market!
— Terri Schnitzius, REALTOR® | True Carolina Realty | (856) 916-1663