Borrowing home equity in today's unique economy could be smart for homeowners if they know which traps to avoid.

Key takeaways Knowing how to calculate home equity gives homeowners a way to understand their home’s worth — and potentially liquidate it for their needs or wants. Your home equity is basically your ...

Knowing how to calculate home equity gives homeowners a way to understand their home’s worth — and potentially liquidate it for their needs or wants. Your home equity is basically your home ...

You’ll generally need at least 15% to 20% equity in your home to qualify for a HELOC. To calculate your equity, subtract your outstanding mortgage balance from your home’s current market value.

Equity check: Calculate your current equity stake. If your home’s value has increased, for instance, from $350,000 to $400,000, and you have paid down your mortgage and previous home equity loan ...

Lenders then calculate your debt-to-income ratio ... Use a Home Equity Loan or HELOC Another option is to tap into your home equity with a home equity loan or HELOC and use the funds to close ...

Use this calculator to estimate how much you might ... Putting down less money upfront also means you have that much less equity in your home, which could become problematic—if the value of ...

If you own your home outright and want to buy another, you should consider your financial options, including equity release. Before committing to buying a second home, it’s important to consider ...