How to Find Out What the Equity Is in Your Home

When you're paying a mortgage, you own a certain percentage of your home, while the bank owes the other percentage. The amount that you own is your equity. You need to know this amount when applying for a home equity loan or when you're thinking about selling your home and buying another. The equity in your home is tied to the market value of the home, so it may fluctuate over time. Still, you are able to easily estimate the equity you have.

Step 1

Assess the market value of your home. If you need concrete numbers, you'll have to hire a professional appraiser. If you only want an estimate for personal use, you can get get an estimate from a website like, which calculates it based on current data of comparable homes selling in your area.

Step 2

Check your mortgage statement to see how much you still owe on the loan. This should be the amount of principal you have left, not including any interest payments.

Step 3

Subtract the amount of money that you still owe on your mortgage from the estimated value of your home. This value is your equity.

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