Equity is the value of an asset (e.g house, car) minus any debts attached to that asset.
For a property, the equity would be the current market value of the property minus the balance of any loans attached to that property.
As an example, say we have a property as follows:
and
The equity in this property would be $400,000. That is $1,000,000 – $600,000 = $400,000
Every borrower has a story. A lifestyle. A rhythm of spending that pulses through their grocery receipts, café habits, streaming subscriptions, and utility bills. And
The Debt-to-Income Ratio (DTI) is a crucial financial metric that serves as a key determinant in lending decisions, measuring the relationship between an individual’s total
Inflation is an increase in the level of prices of the goods and services that households buy. It is measured as the rate of change of those prices. Typically, prices rise over time, but prices can also fall (a situation called deflation).
