Home equity sounds like a pretty straightforward concept: it’s the portion of your home you truly own, free and clear of debt. However, when it comes to understanding concepts like how home equity grows, the differences between home equity products, or how much equity you can borrow against — people can get a lot of things wrong.

As a certified HELOC specialist, I often field many questions from confused homeowners on everything about home equity, including what it is, how to tap into your home’s value, how that may impact your primary mortgage and more.

A quick scroll through social media or online forums reveals a lot of misinformation out there. To help cut through the noise, I’m using this Bankrate column to dispel nine myths and misconceptions about home equity and home equity borro

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