Housing & Real EstateFree Tool

Home Equity Calculator

Provided byBankrate Calculatorsbankrate.com

Computes available home equity available for borrowing based on home value and remaining mortgage.

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About this tool

What Home Equity Calculator does

A home equity calculator determines how much of your home's value you can borrow against. Users enter their property's current market value and the remaining balance on their mortgage to receive an immediate estimate of available equity. This figure helps homeowners understand their borrowing potential for renovations, debt consolidation, or other major expenses. The tool converts property value and debt into a clear dollar amount, simplifying the financial planning process for those considering leveraging their home's value.

Step by step

How to use the Bankrate Calculators Home Equity Calculator

  1. 1

    Enter your home's current estimated market value into the calculator

  2. 2

    Input the outstanding balance remaining on your mortgage loan

  3. 3

    View the calculated estimate of available home equity displayed on screen

  4. 4

    Review the on-page explanations of factors that influence your borrowing power

  5. 5

    Use the related resources to compare loan options or calculate mortgage scenarios

Is it right for you

Best for

Homeowners who want a quick, free estimate of their borrowing capacity before contacting lenders or beginning the application process.

Limitations

  • Estimates are based on user-input figures and may not reflect official appraisals
  • Does not include closing costs, fees, or lender-specific loan-to-value limits
  • Results should be verified with a formal loan quote from a financial institution
Questions

Home Equity Calculator FAQ

How accurate is the home equity calculator estimate?
The calculator provides a quick estimate based on the numbers you enter; actual borrowing amounts depend on lender requirements, credit qualifications, and a professional home appraisal.
Can I use this tool to compare different loan options?
Yes, the calculator estimates your available equity, which you can then compare across different loan amounts and terms using Bankrate's related rate and scenario tools.
What factors affect how much home equity I can access?
Your available equity is calculated by subtracting your remaining mortgage balance from your home's current market value; lenders may also cap borrowing at a certain percentage of the home's value.
Is my personal information safe when using this calculator?
The tool only requires your home's value and mortgage balance; no sensitive personal data is needed to get an equity estimate.
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