How Much Equity Do I Have?

Estimate your current home equity and see your potential borrowing power based on standard loan-to-value (LTV) limits.

Home equity is the portion of your property that you truly "own."

To calculate your equity, subtract your current mortgage balance(s) from the current appraised value of your home.

Use this tool to see your current standing and explore how much of that equity you may be able to borrow against.

Current Home Value

Estimate current home value

First Mortgage Balance

Second Mortgage Balance

Your Estimated Home Equity

Current Property Breakdown

Your Estimated Borrowing Power

While you have $0 in total equity, lenders typically require you to leave 15% to 20% of your home's value untouched as a safety cushion. The chart below shows the actual amount of cash you could potentially borrow based on standard lending limits.

What is Home Equity?

Home equity is the portion of your property that you truly "own" outright. It is the difference between your home’s current market value and the outstanding balances of all your mortgages. Over time, your equity grows as you pay down your loan principal and as your property appreciates in value.

Our Home Equity Calculator provides a quick, data-driven estimate of your current equity and how much of it you might be able to access based on standard lender requirements.

How To Use Our Home Equity Calculator

Ready to get a better understanding of your home's financial power? Input the following information to calculate your standing.

Home Information

Current Home Value. The estimated market value of your property today. If you aren't sure, you can use our Home Value Estimator to get a recent valuation.

First Mortgage Balance. The current remaining balance you owe on your primary mortgage.

Second Mortgage Balance. The remaining balance on any secondary loans, such as a Home Equity Line of Credit (HELOC) or a Home Equity Loan. If you do not have a second mortgage, simply enter 0.

Understanding Your Calculator Results

The calculator provides a detailed visual breakdown to help you understand your current property standing and potential borrowing power.

Current Property Breakdown: This section visualizes the ratio of your debt (what you owe) to your equity (what you own). It calculates your current Loan-to-Value (LTV) ratio, a key metric lenders use to determine your borrowing eligibility.

Your Estimated Borrowing Power: Lenders rarely allow you to borrow 100% of your home's value. This chart projects your potential borrowing power at standard LTV caps (70%, 75%, 80%, and 85%). For example, an 80% LTV cap means your total debt cannot exceed 80% of your home's total value.

What are the Financial Benefits of Tapping Your Equity?

If you have built up a significant amount of equity, you can leverage it to improve your financial situation or fund major life events.

Debt Consolidation: You can often use home equity to pay off high-interest debt, like credit cards or personal loans, rolling them into a single, lower-interest mortgage payment.
Home Improvements: Reinvesting in your home through renovations or repairs can improve your quality of life while potentially increasing your property's value even further.
Major Expenses: Equity can act as a reliable funding source for significant expenses, such as college tuition, medical bills, or starting a business.

Beyond the Numbers: What Else Should I Consider?

Before tapping into your home equity, take time to assess your personal financial situation and goals.

Closing Costs and Fees: Accessing your equity usually requires a new loan (like a cash-out refinance or HELOC), which comes with closing costs, appraisal fees, and origination fees. Ensure the benefits outweigh the upfront costs.
Changes to Your Monthly Payment: Borrowing against your home will increase your total debt load and will likely increase your monthly payment obligations.
Are you ready for the responsibility? Your home acts as the collateral for these types of loans. If you are unable to keep up with the new payments, you risk foreclosure.