The Burren. The Burren is an amazing place. It is a karst limestone region of approximately 300 sq km which lies in the North West corner of Co Clare, in Ireland. It is composed of limestone pavements, which are eroded in a distinctive pattern known as karren.
Home equity is the amount of money you have already paid against the value of your home. A simple formula for determining your home equity is to subtract the amount of the mortgage balance from the current fair market value of your home. In other words, your equity increases as your mortgage balance decreases.
Subtract your loan balance from your estimate of your homeâs value. Divide the difference by your homeâs value to determine your homeâs equity. If you determine that your home is worth $250,000 and your loanâs balance is $200,000, you have $50,000 in equity.Divide this by $250,000 and you get 20 percent.You therefore have 20 percent equity in your home.ivide the difference by your homeâs value to determine your homeâs equity. If you determine that your home is worth $250,000 and your loanâs balance is $200,000, you have $50,000 in equity.