Subtract the amount you still owe on your mortgage from your home’s current market value
Home equity = current market value – mortgage balance
Get your home’s current market value from a recent appraisal, comparable sales, or an online estimate
Get your current mortgage payoff amount from your lender
If you have a second mortgage or home equity loan, subtract that balance too
Equity percentage = home equity ÷ current market value
Example: if your home is worth $400,000 and you owe $250,000, your equity is $150,000
Example equity percentage: $150,000 ÷ $400,000 = 37.5%