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Your Home Equity Report
What it's worth, what you owe, what's yours, and where the gain actually came from. Nothing is sent anywhere and no credit is pulled.
Home equity update
Where the gain came from
How much you could actually reach
Combined loan-to-value caps. Most lenders stop at 80%, some write 85%, and 90% exists for strong credit.
What you have paid so far
Pay a little more each month
Every extra dollar goes straight at the principal, so it never pays interest again.
Would a refinance actually help?
What the market is doing here
What it could rent for
If you used that equity, what could you buy?
Based on your reachable equity as the down payment. It ignores your income and credit, which both have to work too — that is what the rate quote is for.
On record for this property
Market estimate for the area, not an appraisal of your property, and not an offer of credit. Your servicer holds the only payoff figure that counts.
Why the split matters
Most homeowners think of equity as one number. It is really two.
Market movement is what the neighborhood did. You did not earn it and you cannot control it. It can go backwards.
Principal paid down is what you actually bought with your own payments. Early in a thirty-year loan almost none of your payment goes here, which is why year eight looks so different from year two.
Knowing which half of your equity came from where changes what you should do with it. Equity built by a hot market and equity built by eight years of payments carry different risk if values fall.
What you can actually do with it
- HELOC — a second lien, so a low first mortgage stays untouched
- Digital HELOC — no appraiser, funds in as little as 5 days
- Cash-out refinance — one new first mortgage, when the math wins
- Home equity agreement — no monthly payment, 500 minimum score
- Reverse mortgage — 62 and over, no required monthly payment
Not sure which? The side-by-side comparison runs the math on the two most common.
How the estimate is built
The value comes from Zillow's published home value index for your ZIP code, which covers 26,268 ZIPs and is updated monthly. It is a market estimate for the area, not an appraisal of your specific house. A corner lot, a remodel, a bad roof or an unusual floor plan will all move your number away from it.
If you enter your own value instead, the report uses yours.
Balances are either what you type, or a standard amortisation from your original loan amount, rate and start date. Neither is a payoff quote. Your servicer has the only number that counts for that.
This is not an appraisal, not a valuation and not an offer of credit.