Does my down-payment count towards equity in my home?
Equity is the difference between the value of your home and the debt against it. In that formula, the down payment reduces the amount you would owe against the home, so yes. You have less to finance, so your equity is greater.
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Equity is the difference between the value of your home and the debt against it. In that formula, the down payment reduces the amount you would owe against the home, so yes. You have less to finance, so your equity is greater.
