Use the steps below to calculate home equity. The first step is to determine how much your home is worth. Getting an ...

To calculate your equity, subtract your outstanding mortgage balance from your home’s current market value. For example, say your home is appraised for $400,000, and you owe $220,000 on your ...

Your home equity is basically your home’s market value, minus any outstanding sums owed on it. To calculate your home equity, take your home’s appraised value and subtract your mortgage ...

Another general rule of thumb: All your monthly home payments should not exceed 36% of your gross monthly income. This calculator can give you a general idea of what size mortgage you can afford.