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You have a home currently valued at $250,000. You have now paid down the original mortgage on this home by 35 percent. You borrowed $220,000
You have a home currently valued at $250,000. You have now paid down the original mortgage on this home by 35 percent. You borrowed $220,000 for 30 years at 8.375%. As with all mortgages, payments are made monthly. What is your equity value on this home?
| $220,000 | ||
| $107,000 | ||
| $143,000 | ||
| $77,000 | ||
| None of the above |
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