equity vs no equity?

[Mubasher Riaz]

Can someone please explain to me difference between an owner having 30% equity vs 80% equity? thanks

[Victor Etongwe]

Equity just refers to ownership. If you have 30% equity in a $100,000 home then you have $30,000 in ownership and your lender owns the other 70K. If you 80% equity in a $100k home then you own $80k and your lender owns $20k. If you bought your house with all of your own cash then you have 100% equity. Hope that helps