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It is essential to know What’s Your Home Buying Power? one of the first questions you’ll probably ask is, “What can we afford?”

What is Home Equity? Home equity seems to be a very simple calculation — the total amount of mortgages owed subtracted from the current market value of a home. Here is a simple example: Current Home Market Value  $325,000  Existing Mortgage $225,000  Homeowner Equity $100,000 One side of the equation is well defined, and it is found on the monthly mortgage statement,...