The conversation between human and AI assistant.
Is it better to rent, lease, or own your own house?
Can you explain equity to me?
Equity is the difference between the market value of your home and the amount you still owe on your mortgage. So, the longer you own your home and make mortgage payments, the more equity you build. This equity can be used to secure a loan for other purposes or can increase your overall net worth. Do you have any other questions?