Home Equity Calculator
See how much equity you have today and when payments plus appreciation push you past 20% (drop PMI), 50%, and a fully paid-off home.
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Your equity today
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Reach 20%
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Reach 50%
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In 10 years: —
Equity % 20% 50%
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How home equity grows
Two engines: payments and appreciation
Every mortgage payment chips away at your balance, and any rise in your home's value lifts the other side of the equation. Together they build equity faster than most people expect. Hitting 20% equity is the big one — it lets you cancel PMI and stop paying for insurance that only protects the lender.
Crossing 20% soon? Time your PMI cancellation precisely. Open the PMI removal calculator →
Home equity FAQ
How do I calculate my home equity?
Equity = your home's current value minus your remaining mortgage balance. As a percentage, it is that difference divided by the home value. Both your monthly payments and any rise in home value increase it.
When can I stop paying PMI?
Once you reach 20% equity (an 80% loan-to-value) you can request PMI cancellation, and it is removed automatically at 22% equity. This tool marks the date you cross 20%.
Does home appreciation build equity?
Yes — rising home value increases your equity even if your balance stays the same. Enter an expected appreciation rate to project your equity, though future appreciation is never guaranteed.
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