How to Calculate Home Equity

[@MegaNancyLover]

Excellent video, explained fantastically for people who are completely new to real estate and its terminology and jargon. Very good.

[@killerkezoow100]

Im a visual learner and this was amazing! Thank you for explaining!

[@jamalchukueke4461]

Excellent video. I was looking to learn about equity and this was perfect on keeping it simple. Great job!

[@Ohlaudi]

This was very insightful. Can you possibly do a video on cash out refinance vs. HELOC and the negatives/ positives to both? I am really trying to grasp the cash out refinance aspect. Thanks!

[@antman674]

Great video. Exactly what I was looking for.

[@Edspira]

Great to hear!

[@bigdswagger]

Very well explained I'm in the process of trying buy a home in only 23 and happy to at least try to get this done. Any thing on building credit or dealing with a collection.

[@Edspira]

Madden Dilemma, Congratulations in advance on your first home purchase! I have made 15 videos related to housing (edspira.com/lessons/housing), however, I have not made any videos on improving your credit score. Here's a good guide from experian on improving your credit score: www.experian.com/blogs/ask-experian/credit-education/improving-credit/improve-credit-score/ Good luck and thanks for watching!

[@breannanash4714]

Thank you best equity video i have seen

[@Edspira]

Glad you liked it!

[@Xslices]

I love you man. You explain this well to me. I play on purchasing my first home and this will help me out a lot thanks!

[@arieljj4896]

Hi there, this video was extremely helpful. I just have a quick question: why is the home equity the FMV- the remaining the principal, if the equity is also affected by whether the home value has appreciated or depreciated? For example in the video, after the home value had increased by $3,000 and the owner had paid $100 on the principal, the home equity went from $10,000 to $13,100. But if we go by that formula then the equity would only be $10,100, because only 100 dollars was paid towards the principal. I guess what I am asking is, why isn;t the appreciate or depreciation of the home value included in calculating the equity, and if it is, why does FMV- the remaining principal not reflect that?

[@arieljj4896]

Oops, I think I now understand after rewatching the video; I must consider any changes in the FMV. So, the equity is $13,100 because the FMV is no longer $95,000, it is now 98,000. SO the FMV(current cost, not the cost the house was when I purchased it)- remaining balance = the equity. Wow, I get it now. Thank you so much for such a clear and informative video.

[@alfrdolerma8719]

Excellent video. Helped me to understand about home equity

[@cindymejia25]

Great video!!

[@DennisCNolasco]

Awesome, thanks Edspira!

[@Edspira]

No problem 😊

[@wolfjanvier4891]

Excellent video. I’ve learned a lot!

[@monetaryrealty7290]

Damn good video!

[@tylernorman25]

Great content, please speak louder or bring the microphone in closer up turn up the mic sensitivity, very hard to hear. Great stuff though explained perfectly.

[@CV_CA]

Explains that is totally obvious.

[@victorlee6634]

Great video!