The value of your home is a powerful tool you can use for paying for large expenses, including home improvements, college expenses, debt consolidation, and more!
Enter your information below to find out how much equity your home has!

 

Ready to harness the power of your equity?

 

HOme equity faqs

Get the answers to the most commonly asked questions surrounding equity and how to use it.


 
Home Equity is the portion of a property's value that a homeowner truly owns, free of any mortgage or lien. It is calculated as the difference between the home’s current market value and the remaining mortgage balance.

•    Home Market Value: $400,000
•    Remaining Mortgage: $250,000

Home Equity: $400,000 - $250,000 = $150,000
You can use home equity as a way to access funds by borrowing against your property's value for various financial needs such as home improvements and renovations, debt consolidation, education expenses, emergency funds, business needs, and more.
You can take out a home equity line of credit (HELOC).  UMCU’s HELOC gives you access to funds for a 10-year draw period, during which time you are only required to make minimum, interest-only payments based on the amount used.  After that, you will have 15 years to repay the balance with principal and interest payments.
Find out how much equity is in your home and estimate how much money you can borrow with our home equity calculator!
heloc-image-1-2.jpg