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.
Basically, equity is the amount of your home that you own. For example, if your home is worth $350,000 and your mortgage is for $300,000, you have $50,000 in equity. So if youâre looking to own your home, youâll need to know about choosing a mortgage thatâs right for you.