Home equity calculator

Discover how much cash you have in your home and ways you can access it.

Your estimated home equity

Get your exact equity amount

Connect with a Rocket Mortgage Home Loan Expert for your actual home equity amount.

Home equity calculator FAQ

What is home equity?

Home equity is the amount of your home that you actually own. Specifically, equity is the difference between what your home is worth and what you owe your lender. As you make payments on your mortgage, you reduce your principal – the balance of your loan – and you build equity.

How do I access the equity in my home?

When you sell your home, you can use your equity as a down payment on your next home.You may also be able to take some of your equity out as cash. There are a couple ways to do this:

Cash-out refinance
Home equity loan

You won't be able to take out the full amount of equity that you have. Most lenders require you to leave a certain percentage in your home.

Can I take equity out of my house without refinancing?

Yes! A home equity loan lets you access your equity without refinancing your current mortgage. There are a few things you'll need to qualify for a home equity loan:

You've paid down your mortgage enough to take out at least $45,000.
You can afford a second payment. Home equity loans have fixed interest rates, so the payment won't change.
Your FICO® score is at least 680.

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