How do we calculate net equity?

There are two locations in Remine where you can see net equity estimates: the Home Equity filter on theDiscover map, and the header on the Property Details page.

We calculate net equity with the following steps:

  1. We collect information about the active mortgage loan amount and interest rate from First American, and create a modeled amortization schedule.
  2. Based on the modeled amortization schedule and current date, we calculate the remaining loan balance.
  3. We subtract the remaining loan balance from the First American valuation for the property. See the How do we calculate property value? article to learn about valuations.

Note: If an owner has missed a payment or made extra payments, our estimate will be incorrect.

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See the What are the available layers? article to read about all the available layers in Remine.