Sweat Equity

Definition

  • The value of the work, including renovations, maintenance, or repairs, put into a house by its owner. This can be used in place of a full down payment (up to and including 50% of a down payment).

Synonyms
hard work, time and effort, increased value

Related Terms and Acronyms

  • Betterment Definition,
    • An improvement or replacement that increases a property's value.
  • Curb Appeal Definition,
    • The look of a house when viewed from the street.
  • Fixer-upper (fxr) Abbreviation,
    • A house that needs a lot of work and which sells for a discount.
  • Home Equity (HE) Acronym, Very Important,
    • The part of a home's value that the mortgage borrower owns outright; the difference between the fair market value of the home and the principal balances of all mortgage loans.
  • Trade Equity Definition,
    • A swap of property, such as real estate or a car, as part of a down payment for other real estate.
  • Valuable Consideration Definition,
    • The granting of some beneficial right, interest, profit, or suffering of some detrimental forbearance, loss or default by one party in exchange for the performance of another.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage