How Much Equity Do I Have?
Enter what your home is worth and what you owe to see your equity and how much you could borrow at the limits lenders commonly use. Results update as you type.
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Lenders set their own limits, and they also look at credit, income, and payment history. The percentages are common ones, not promises.
What is home equity?
Home equity is the part of your home you own: what it is worth minus what you still owe on it. If your home is worth $450,000 and you owe $250,000, you have $200,000 in equity, or about 44%. Your equity grows as you pay down your mortgage and as your home's value rises, and it shrinks if values fall.
What is loan-to-value?
Loan-to-value, or LTV, is the amount you owe divided by what your home is worth. It is the flip side of equity: 56% LTV means 44% equity. Lenders use it to decide how much they will lend. When you add a second loan on top of your first mortgage, they look at the combined loan-to-value, or CLTV, which counts everything you owe against the home.
Why the limits matter
Lenders generally want you to keep some equity in the home. Cash-out refinances are often limited to about 80% of your home's value. Home equity loans and HELOCs are often limited to about 80% to 85% across all loans, and some lenders go higher with stricter requirements. The table above shows what that would leave available for you.
Ready for the next step? Use the equity options tool to see whether a home equity loan, a HELOC, or a cash-out refinance fits you, then compare the numbers with the refi vs. second mortgage calculator. For how each works, read HELOC vs. home equity loan (HELOAN).