If you own a home with a market value of $175,000 and you have an outstanding balance on your mortgage of $60,000,your home equity is

Name: If you own a home with a market value of $175,000 and you have an outstanding balance on your mortgage of $60,000,your home equity is
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Quizplus · Accepted Answer

Home equity is the difference between the market value of the home and the outstanding balance on your mortgage. Therefore, the home equity in this case is:
$175,000 - $60,000= $115,000 (Option C)

If You Own a Home with a Market Value of $175,000