Let's say I buy a house using a mortgage where the following information is true:
The house's original price was $100,000.
A down payment of 20% was required.
I get a 30 year mortgage with a 4.5% interest rate.
The house's value appreciates 3% per year.
The house has the following expenses that increase 3% per year:
Property Tax: $1,500.
Total Insurance: $800.
HOA Fee: $0.
Maintenance: $1000.
Other Costs: $200.
What will my equity be after 2 years?