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How do i find out if i have equity in my home?

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November 19 2009 - Weymouth
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Answers (5)

The reason you want to know will determine which route you take. As you can see, you have options but the options are specific to your goal.
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November 20 2009
Profile picture for Cherlann
Value - Loan balance = Equity. Find out what your value and your loan balance are and then you will know your equity.
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November 20 2009
Profile picture for anthonyebright
1. You can start by researching this on any of the real estate valuation websites. Oh, wait, you're already here! ;-)

2. You can call your real estate agent for an opinion of value

3. You can get an appraisal on your own.

4. You can apply for a loan and get an appraisal through the lender
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November 20 2009
There are a handful of different options to find out the value of your home. I suggest contacting a local agent and asking him/her to run some comparable values of homes in your area. This option is free. The other option which can be a bit costly, but maybe a bit more accurate is an appraisal.

With these numbers along with your loan balance you should have enough information to give you an estimate of the equity in your home!
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November 19 2009

The best way that I know of is to get an appraisal. Comps are good but they don't tell you how much a loan you can get b/c lenders don't look at them. If you are just curious, have a Realtor give you comps. If you are going to sell or re-fi, you'll need an appraisal.

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November 19 2009
 

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QuestionHow do i find out if i have equity in my home?
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  • November 20 2009
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