What is Home equity?
Home equity is the share of your home you actually own — its value minus what you still owe on your mortgage.
Definition
Equity is the difference between your home's market value and your remaining mortgage balance. It grows two ways: as you pay down your mortgage, and as your home's value rises. For most homeowners, equity becomes their largest source of wealth over time.
You can tap equity through products like a home equity line of credit (HELOC) or by refinancing — useful for renovations, consolidating debt, or major expenses. Building equity steadily is one of the biggest long-term benefits of owning a home.
When home equity matters
- Tracking your growing wealth as a homeowner
- Funding renovations or major expenses
- Planning your next move or upgrade
How Homeprint helps with home equity
Homeprint shows your estimated home value and how your equity is growing over time, helping you make confident financial decisions.
- Keep every related document in one secure place
- Track your home's value and finances over time
- Stay connected with trusted neighbourhood experts
Home equity — FAQ
Related terms
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