Print this screen and use the worksheet below to calculate how much equity you have.
This example shows a loan or line of credit up to 80% of a home's equity, less any existing mortgage.
Complete "Your Worksheet"
|Our Example||Your Worksheet|
|Estimated Market Value of Your Home||$300,000||$_________________|
|X .80||X .80|
|Less Outstanding Mortgage amount||-150,000||- ________________|
|Total available Home Equity Loan or Line of Credit Limit||$ 90,000||$________________**|
**Approximate amount available for you to borrow. This is an example only; individual situations may vary; all loans and lines of credit subject to credit approval. Assumes a combined loan to value of 80%; Higher combined loan to value products available for those who qualify. Call us at 401-348-1200 or 1-800-475-2265.