Equity, what is it good for?
Knowing how much equity you have is one thing. Knowing how much you can actually access is another. Our free equity calculator helps you work out how much equity you have in your property and what you might be able to use towards your next purchase or other goals. It’s free to use, with no cost or obligation.
What is equity?
Equity is the difference between what your property is worth and how much you still owe on your home loan. As you pay down your mortgage or your property increases in value, your equity can grow. You may be able to access some of that equity by borrowing against your property, using the funds for things like buying an investment property, renovating or other major expenses. How much you can access depends on your property’s value, existing loan balance and the lender’s requirements.
Equity Calculator
Our free equity calculator gives you an estimate in seconds. Just enter your home value and loan amount – it will give you total equity and how much you could access now.
Property Details
Your Available Equity
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Usable equity is estimated at 80% of your property's value, less your current loan balance. Actual usable equity depends on lender policy, LMI, and a full credit assessment. Results are general in nature and not financial advice — confirm figures with your lender or broker before proceeding.
How to I access my equity?
Equity can potentially help you buy another property, renovate your home or consolidate debts. Just remember that accessing it means increasing your loan amount.
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Frequently Asked Questions
What is the difference between total equity and available equity?
Total equity is the total value you own of your home. For example, if you have a home worth $1Million and $500,000 owing, your total equity is $500,000. Your available equity you could borrow back up to is 80% of the property value which would be $300,000.
What if my property value doesn't meet expectation?
Depending on your lender and estimate value of your home, you could look at refinancing to another lender who may provide a better valuation result. This means you could potentially access more equity than your current lender will.
How accurate is this calculator?
The calculator is very accurate, however the value you believe your home is worth may not be. We can arrange a valuation on your home to find out its current value (different to a real estate appraisal) and give you a accurate value on how much equity you do have ready for an application.
Can I use equity instead of cash savings?
When looking to buy another home, you could potentially leverage your available equity instead of providing a cash deposit towards your new purchase. This could involve a “cash out” of the equity as a supplementary loan or “cross securitizing” with the new purchase.
