How do I Determine the Equity Amount in My Home?

You have two choices.  You can hire a “fee appraiser” (cost $300 – $450 – depending on the region) or contact several Realtors (experienced)  and request they provide you with a formal BPO (Bropker Price Opinion).  If the agents can’t or won’t do this, move on to other agents who will.

You would then subtract the estimated “proceeds” from the sales price, less any loans that must be repaid, to determine “equity'.”

If you purchased you home more than  5 years ago, and have not re-financed the home since, you should have some equity.  Maybe alot.