You can answer this in under a minute with two numbers: what your home is worth and what you still owe on it.
The calculator on our homepage does the arithmetic and shows the result as a lender would read it — equity, loan-to-value, and a borrowable estimate.
Start with the most recent evidence you have. An appraisal from the last twelve months is best. Failing that, look at closed sales of similar homes within about half a mile.
Online estimates are a reasonable starting point but tend to lag a turning market by a quarter or more.
Subtract the total from the value. Then subtract another 6–8% if you are thinking about a sale, because agent commission and closing costs come out of your equity, not the buyer's.
Run your own figures through the calculator. No credit check, nothing saved unless you ask.
Calculate my equityNot to estimate it. You will need one if you apply for a loan against the equity, and the lender will order it.
Only the balance you have actually drawn reduces your equity, but lenders often consider the full limit when sizing new credit.
Part of The Homeowner's Guide to Home Equity.
Home equity is your home's value minus what you owe. Here is exactly how it is calculated, with worked examples.
LTV is the ratio lenders use to price your loan. Here is how to calculate it and what thresholds matter.
Home equity itself does not affect your credit score — but borrowing against it can. Here is how.