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What is home equity?

Athe closing costs associated with buying or renting a home
Bthe difference between a homes market value and the homeowners outstanding loan amountc. the potential rental income that a homeowner can get from a housed. the difference between the purchase price of the home and its current market price?

Verified Answer :

The answer is B
The difference between a home's market value and the Homeowners 
outstanding loan amount.
Home equity: the difference between the home’s market value and the remaining loan amount.

Answer:

B.) The difference between a home's market value and the homeowner's outstanding loan amount

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