You have a home with a market value of $200,000. Your total equity in the home is $40,000. The maximum home equity loan available if the bank will loan 80% based on equity invested is

Question

Quizplus · Accepted Answer

The maximum home equity loan available is calculated based on the equity invested, which is $40,000. Since the bank will loan 80% of the equity, the calculation is $40,000 * 80% = $32,000.

You Have a Home with a Market Value of $200,000