How do you determine the equity on a house?

Hi ccounselor,

A query similar to yours has been answered in the given link:
http://www.mortgagefit.com/quitclaim/determine-equity.html#105947

Please take a look at it. I hope it'll help you.

Thanks

First of all equity is a figment of your imagination until it is realized.

Now, take your appraisal amount and subtract your mortgage(s) balance, that is an estimate of your equity.

ccounselor1

Welcoem to the forum

You really want to get a good number then either you can hire a Realtors who can run somecomps aroudn your area or you can hire a appriser who can give you a good number

Good luck and feel free to ask

well-put, david. and haven't we let our imaginations run wild?

hi,

not sure why you got the appraisal. is it free of charge?

if you are going to refinance the property, you should do it as soon as possible due to the volatile market. the appraisal value on the property depends on the comps, which can be changed very often.