Home Equity
Also called: equity, HELOC
The part of your home that you truly own. It is what the home is worth minus what you still owe on it.
Example
Your home is worth $200,000 and you owe $150,000. You have $50,000 in equity.
Why it matters
Equity is one of the biggest ways families build wealth.
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For learning, not personal financial, tax or legal advice. Rules and limits can change each year, so check official sources (like IRS.gov or your plan's documents) or a trusted pro before big decisions.