How much equity I have put into my house?

Guest 0.10 Dollars($)

How do i determine how much equity i have put into my home?

jerry · Posted: Thu Nov 17, 2005 1:32 am Post subject: RE:

Hi,

Equity you have in your home is the diffrence between your homes market value and the remaining balance on any outstanding mortgage debt.

Thanks,
Jerry

Samantha · Posted: Thu Nov 17, 2005 1:54 am Post subject: RE:

Hi Roberto,

Welcome to MortgageFit Forums.

You can determine this from couple of perspective.

Net-Worth Perspective.
Tax perspective.

Jerry has already explained you from a net worth perspective.

From a tax perspective, you should consider your basis in the property and along with add up any capital improvement done on the property. The IRS Publication 551, basis of assets consider this approach while determining the value of your home equity. You should look to determine your capital gain or loss if you sell the property.

God Bless You.

Thanks,
Samantha

Guest 0.10 Dollars($)

Thanks for your help guys. I have got the information i wanted.

Roberto

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