Remaining Equity
Definition:
Remaining equity is the difference between the current value of your home and the amount you owe on your mortgage. It is also known as home equity.
Example:
There are a few things that can affect the amount of remaining equity you have:
The current value of your home: The value of your home can fluctuate over time, so your remaining equity will also fluctuate.
The amount you owe on your mortgage: The amount you owe on your mortgage will decrease as you make payments, so your remaining equity will increase.
The amount of your down payment: The larger your down payment, the more remaining equity you will have.