Blog · 4min read
The 8 best HELOC uses beyond home improvements
Paying for home improvements is the most popular reason people apply for a HELOC. Yet there are...
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HOME EQUITY CALCULATOR
How much home equity can you tap into?
Use this calculator to estimate the maximum credit line or loan amount you could borrow with a home equity line of credit (HELOC) or home equity loan (HELoan) through Prosper.
About your property
Your estimated home equity
$0
You have XX.XX% of your home’s value in equity, so you may be able to borrow up to $XXX.³
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This calculator is a self-help tool for your independent use and is intended for illustration purposes only. Results aren’t guaranteed, and may not be relevant to your specific circumstance.
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About our home equity calculator
Back up to calculatorHow to use our home equity calculator
- Enter your property’s estimated value. If you’re not sure, check your most recent appraisal or look up your address online.
- Enter your remaining mortgage balance amount. You can find this on your most recent mortgage statement.
- Click or tap “Calculate”.
- This calculator will show the estimated amount of home equity you may be able to borrow with a home equity line of credit (HELOC) or home equity loan (HELoan) through Prosper.
How home equity is calculated
Home equity is calculated by subtracting the amount of money still owed on a property from the property’s fair market value.
Here’s an example of how it could look: if your property is valued at $100,000 and your owe $40,000 on your mortgage, your current equity would be $60,000.
| $100,000 (estimated home value) | |
| - | $40,000 (mortgage balance still owed) |
| = | $60,000 (current equity) |
Home equity resources
See more home equity content
Blog · 5min read
How to use your home equity
Ever since making your very first mortgage payment years ago, you’ve been slowly building up...
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Blog · 3min read
How much equity do you need for a HELOC?
You may already know that a home equity line of credit (HELOC) may be one of the smartest ways to fund...
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Home equity is just the beginning. Prosper has smart, simple tools for borrowing, saving, and earning with products like personal loans, a credit card, and investing.
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