Julia has a home valued at $150,000.She owes $100,000 on her mortgage.Julia can obtain a home equity loan for up to

Name: Julia has a home valued at $150,000.She owes $100,000 on her mortgage.Julia can obtain a home equity loan for up to
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A home equity loan is typically based on the equity in the home, which is the difference between the home's value and the amount owed on the mortgage. Julia's equity is $150,000 - $100,000 = $50,000.

Julia Has a Home Valued at $150,000