How Much Equity Do I Have?

If you’re a homeowner looking to refinance or sell your house, the #1 question you want to know is how much equity do I have? Understanding home equity can help you make smart, strategic decisions. Let’s break it down so you understand where you stand!

What is Home Equity?

Home equity is the difference between what your home is worth today and how much you still owe on your mortgage. In a sense, it’s the portion of your home you have already purchased.

Look at your latest mortgage statement to find out how much you owe on your property. Then look up your property at https://cl.findbuyers.com/kerriann to see what your home is currently worth. (If you want a more detailed analysis of what your home is worth, please call me so I can do a deep dive.)

Example:

If your house is currently worth $400,000 and you still owe $250,000 on your mortgage loan, your equity is $150,000. That’s $150,000 in your pocket!

Why does Home Equity matter?

Knowing your equity can open up opportunities like:

1. Selling your home with confidence, knowing how much cash you’ll walk away with.

2. Using a HELOC (Home Equity Line Of Credit) for home improvements, education, or debt consolidation.

3. Refinancing for a better rate or better loan terms.

4. Investing in another property.

   
   

Equity Isn’t Cash Until You Tap Into It!

Your equity is your super power — use it wisely.

Contact me for a free, no-pressure home evaluation so you know your options. I’m here to help!