Equity Review Calculator
Equity Review Calculator
Let's find out how much equity you have in your home. You may be sitting on much more equity than you think!
Did you know?
The average U.S. homeowner now has more than $274,000 in equity (Corelogic, 2023)
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Step 1 of 3
Original Purchase
Give us a few details about when you bought your home
Purchase Price
Down Payment
Loan Balance
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Step 2 of 3
Current Value
Plug in how much you think your house is worth today
Estimated Current Value
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Your Current Estimated Home Equity is
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Original Price
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Current Value
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Equity Breakdown
Principal Paid
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Down Payment
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Appreciation
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All numbers are estimates*
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What is Equity?
I’m glad you asked! Non-technically speaking, equity is how much of the home you actually own. Equity can be built in three different ways, detailed below.
Down Payment

The bigger your down payment, the more equity you'll immediately have in your home. Say you buy a home for $400,000. If you put down 5%, or $20,000 - you'll owe $380,000 on your mortgage/principal. In this example, you'd start with $20,000 in equity!

Principal Paid

The principal is the balance of your loan. As you make mortgage payments, a certain portion of those payments go directly to principal. As you contribute to principal, this raises equity in the property. You are also able to make extra principal payments monthly, yearly, or at your own discretion.

Appreciation

Appreciation is the amount that your property increases in value. There are several factors that have an impact on home appreciation, including interest rates, the economy, supply and demand, local market conditions, and property specifics. Home prices have increased for 12 consecutive years. In 2021, home value increased by over 18 percent - the highest jump on record.

Laura Jewett
Platinum Living Realty