Home Equity Snapshot
Estimate gross and net equity before listing your property.
How This Is Calculated
1) Gross Equity = Home Value - Mortgage Balance = $620,000 - $330,000 = $290,000
2) Selling Costs = Home Value x Selling Cost % = $620,000 x 5% = $31,000
3) Net Equity = Gross Equity - Selling Costs - Prep Budget - Other Costs
4) Net Equity = $290,000 - $31,000 - $6,000 - $0 = $253,000