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Amirh, Home Buyer in Lewis, KS

how could I find out the amount of equity in my home?

Asked by Amirh, Lewis, KS Mon Mar 9, 2009

I need to obtain some type of statement that would identify the amount of equity that I have in my home

Help the community by answering this question:


This would greatly depend on what you are doing? If you are looking for a refi, then the lender will send someone out to appraise the property. If you will need it for a personal reason (ie divorce) then the lawyers either require an appraisal or three differant CMAs from real estate brokers.

These are the only two ways of figuring out the value of the home. From there, you would subtract what is owed. Whatever remains is the equity.

Hope that helps,

Terrence Charest, e-Pro
0 votes Thank Flag Link Mon Mar 9, 2009

The best way is to obtain a full apppraisal on the home. They are about $300. to $350. Then you would subtract all of the liens on your property. ( mortgages, tax liens etc.) If there are any. That is the amount of equity you have in your home.
If you have any further questions. Fell free to contact me.

Thank You.


Michael D Delp
Mortgage Pro
4802 Old Bethlehem Pike,
Telford Pa. 18969
Ph- 215-453-1025
Fax- 215-453-1012
Cell- 610-762-0318
0 votes Thank Flag Link Mon Mar 9, 2009
Equity is a figment of your imagination. With that said get an appraisal. If you are trying to refinance they will order one.

For a rough Idea contact you real estate agent. If you are planning on selling interview a few agents and ask them all to do a cma for you and How they came to that result.
0 votes Thank Flag Link Mon Mar 9, 2009
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