Asked by Shykerian Watson on Apr 24, 2024
Craig and Tammy recently sold their home for $225,000.Their loan balance is $135,680.What is their equity before paying seller's expenses?
Equity
The amount of a home that an owner actually owns.
Loan Balance
The amount of money that remains to be paid on a loan, excluding interest or fees that may accumulate.
- Comprehend elementary financial mathematics concerning percentages and proportions calculations.
- Understand the financial aspects related to real estate investment, encompassing equity, the workings of mortgages, and the computation of interest.
Learning Objectives
- Comprehend elementary financial mathematics concerning percentages and proportions calculations.
- Understand the financial aspects related to real estate investment, encompassing equity, the workings of mortgages, and the computation of interest.
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