Calculations are estimates for planning purposes only and aren’t financial advice.

How to Use This Home Equity Calculator

This tool gives you a quick estimate of how much home equity you currently have and roughly how much of that equity you may be able to tap into. It also lets you run a simple monthly payment estimate if you are considering borrowing against your house.

A lot of homeowners also use this calculator as a first step before reading my breakdown on home equity, which explains why borrowing the wrong way ends up costing more over time.

How to Use It

1. Enter what you think your home would sell for today.
   (A Zillow estimate is fine for this step. No need to be perfect.)
   
2. Enter your current mortgage balance.
   Make sure you use the payoff amount from your mortgage account, not the original loan amount.
   
3. Select your credit score range.
   This helps determine how much of your equity lenders often allow you to access.
   
4. Click Calculate. You will see how much equity you have, your current loan to value ratio, and a rough estimate of the maximum loan you may qualify for based on typical lending caps.
   
   

Optional Payment Estimate

1. Enter how much you want to borrow.
   
2. Enter the interest rate you think you may receive.
   
3. Enter the term in years.
   
4. Click Estimate Payment.

Tips

• Do not guess your mortgage balance. Log into your lender account and grab the payoff figure.
  
• Your home value only needs to be a reasonable estimate.
  
• If the payment comes out higher than you want, simply adjust the amount you want to borrow.
  
• If the new loan to value goes too high, some lenders may limit the approval amount.