Home Equity and Underwater Mortgage Calculator

Estimate your home equity, explore an underwater mortgage or choose an equity goal. Home values and loan balances come from the numbers you enter.

Home Equity & Underwater Mortgage Goals

How much of your home could you own?

Home value is an estimate. This tool does not fetch an appraisal or predict price growth. “Underwater” means your total home-loan debt is greater than your estimated home value. Choose a 0% equity goal to explore when that gap could close.

Your numbersYour loan typeWhat would you like to find out?

What you still owe ($)

This is the loan balance today, not the amount you borrowed years ago. Do not use the payoff quote, which can include unpaid interest and fees.

Find “principal balance” on your statement.

Your fixed interest rate (%)

Find the interest rate on your mortgage statement. Use the interest rate, not APR. This tool cannot predict adjustable rates.

For 6.5%, type 6.5.

Scheduled payments left (months)

Use the number of monthly payments remaining if you pay as usual. Ten years left means 10 × 12 = 120. If past extra payments changed your payoff, enter the statement payment below.

Years left × 12.

Statement loan-only payment ($)

Find the principal and interest parts of your monthly bill and add them. Leave out taxes, homeowners insurance, mortgage insurance and HOA. Leave blank to estimate from balance, rate and months left.

Optional: principal + interest only.

Extra principal each month ($)

Example: your required loan-only payment is $1,500. Paying $1,600 means $100 extra. Tell the servicer to apply extra money to principal. A payoff-date goal calculates this amount for you.

Money above your required payment.

Approximate home value today ($)

Use a reasonable current home-value estimate. Equity is estimated home value minus all modeled mortgage balances. A change in this estimate can change the result without changing your loan.

Your own estimate, not a verified appraisal.

Equity goal (%)

For a $300,000 home with $240,000 in total mortgage debt, equity is $60,000: 20% of the home. Choose 0 to see when you might stop owing more than the home is worth.

20 means owning an estimated 20% of the home.

First payment month for this plan

We count payments at the end of each chosen month. Dates are estimates.

Month you want to reach your equity goal

We count payments at the end of each chosen month. Dates are estimates.

Get a more accurate estimate: add a lump sum, yearly payments or later extras

One-time extra payment ($)

This is money you plan to pay once toward the first mortgage balance, in the numbered month below. It is not a recurring amount.

Example: a $5,000 lump sum.

When to make that payment (month number)

Count from the plan start: month 1 is the first payment, month 12 is the twelfth payment. Nothing is applied if the loan is already paid off.

1 means the first payment month.

Extra payment once each year ($)

Example: pay a $1,000 bonus once every 12 months. This is in addition to monthly extras and any one-time payment. Do not enter the same money twice.

Use zero if you have no annual payment.

First annual payment (month number)

If you choose 12, the annual extra happens at plan months 12, 24, 36 and so on. These are plan months, not January through December.

Choose 1 to 12; repeats every 12 months.

Additional monthly extra starting later ($)

This is added to the extra monthly amount above. If you already pay $100 extra and enter $50 here, the later extra becomes $150 total each month.

Example: $50 more after a raise.

Start that additional extra (month number)

The additional monthly extra starts in this numbered plan month and continues until payoff. A zero amount means this option has no effect.

Example: 13 means after the first year.

Add another home loan, a value-growth scenario or a PMI milestone

Assumed home-value change each year (%)

This is your guess, not a forecast or a live valuation. Try 0, a positive number, and a negative number. If prices fall, equity can shrink even while you pay down debt.

0 means no price growth.

Second mortgage or HELOC balance ($)

Include another loan secured by this home so equity is not overstated. This scenario assumes its rate and loan payment stay fixed and no more money is borrowed. Changing-rate HELOCs need updated scenarios.

Zero if you have no other home loan.

Assumed fixed second-loan rate (%)

Use this loan’s fixed interest rate. An adjustable HELOC can change rate, require interest-only payments or a balloon. Those features are not modeled; this scenario cannot predict them.

Use an unchanged-rate scenario only.

Second-loan payments left (months)

We estimate a fully repaying fixed monthly payment for the second loan. Do not use this model as an exact HELOC payoff forecast.

Example: 10 years × 12 = 120.

Original home value for a PMI check ($)

For a conventional loan with PMI, use the original value used for that mortgage, which can differ from today’s estimate. We only flag when the first loan balance reaches 80% of this entered value. Ask your servicer about cancellation requirements. FHA insurance follows different rules.

Optional; zero skips this check.

Calculating stays in this browser. Nothing is sent or saved until you choose to save the plan in your private account.

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Ready when you are.

Enter your numbers to see a plain-English comparison.

Educational fixed-rate estimate. Taxes, insurance, HOA, tax effects, investment returns, late fees and prepayment penalties are excluded. Ask your servicer to apply extra money to principal and check any early-payment fee. AI answers and live notifications are not connected.