Computing Your Home's Equity for Home Equity Loan
45How Much Can I Borrow?
To compute your home's equity, all you need to do is to find out how much your house is worth and how much your existing mortgage balance is. In other words, if your home has a $260,000 appraised value and you owe a mortgage balance of $160,000, then your home's equity is $100,000. This home equity is the amount you can borrow.
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