Equity is the difference between your properties value and how much you owe the bank. If you meet the banks lending criteria you can take out a loan using your equity as security.
You can buy anything you like with it.
You can also use it as a deposit on an investment property.
The bank holds some of your equity back to protect their interests as they have lent you some money to buy this property. Use this calculator to discover how much useable equity you have. Email the results to michael.sloan@bhgre.com.au and we will tell you what value property you can buy with your equity. https://thesuccessfulinvestor.com.au/tools/calculators/equity-calculator/
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