What does Estimated Increase In Equity mean?

Equity is the difference between the market value of a property and the amount still owing on the mortgage. As a property increases in value over time, the equity in the property also increases. The estimated increase in equity is an estimate of how much the equity in a property is expected to increase over a certain period of time. This estimate can be based on factors such as historical data on the appreciation of similar properties in the area, or the buyer's own plans for improving the property.

Related Terms

Remaining Term Finish Grade Metes and Bounds U.S. Department. of Housing and Urban Development (HUD) Comparative market analysis Secured Loan RESPA Georgian Style Rack Specifications Original Principal Balance Live-In Partnership Estimated Gross Costs of Buying Semi-Custom Home Leverage Liabilities Managed-Competition Lots Proposal To Lease