How do you explain equity in your home?

Equity is the difference between what you owe on your mortgage and what your home is currently worth. If you owe $150,000 on your mortgage loan and your home is worth $200,000, you have $50,000 of equity in your home.

What is the big deal about home equity?

Home equity loans and HELOCs have their benefits, like: Lower interest rates. These loans have lower interest rates than unsecured debt, such as credit cards or personal loans. This can help you save on interest payments and improve monthly cash flow if you need to lower high-interest debt.

What do you need to know about equity?

Before you can start taking action, you need to have a big-picture vision and definition for what equity means to your specific community. 2. What are our measurable goals around equity and inclusion? This question anchors on an important truth: What gets measured matters.

What are the best questions to ask during an equity audit?

The key to conducting an equity audit lies in asking the right questions. Good questions can help you uncover the data you need (both quantitative and qualitative) to build a “data story” around equity.

How to investigate inequities in your district?

As a district leader, you understandably might not know where to begin when it comes to investigating inequities in your district. National trends can provide a helpful starting point and frame of reference. Research points to persistent racial, economic, and gender gaps in achievement across the country.

What are the questions to ask when refinancing a mortgage?

First, ask each lender what types of loans they offer, the types of refinance options available and how to qualify for each. Then test your lender’s knowledge by asking about the difference between the interest rate and APR, how your monthly payment will change and what’s on your Closing Disclosure.