Results
Total Property Value: $0.00
Remaining Loan Amount: $0.00
Home Equity: $0.00
Refinancing Access (90% LVR): $0.00
What Is Home Equity?
Your home equity is the difference between
the value of your home
and what you owe on your home loan.
and what you owe on your home loan.
Key Topics
Online reviews
4.7 from 720+ reviews
4.6 from 420+ reviews
4.8 from 1600+ reviews
Think of your equity as the money you would have left over if you sold your home, and repaid your home loan.
Home Equity Calculator
Disclaimer: This calculator is to be used as a guide to help you better understand your options. We have not assessed what options are suitable for your needs or if you meet other lending criteria that would allow you to access your equity. Any repayments quoted above are calculated using your current home loan balance over a term of 30 years. We strongly recommend that you make additional repayments and pay your loan off sooner. If you borrow over 80% of the property value, then you may pay an LMI premium.
The property equity calculator simply deducts the balance on your home loan from the estimated value of your home. Keep in mind that you can borrow only up to 80% of your home equity. Not sure how much your property is worth? We have written a guide to help you estimate the value of your home, so you can follow the guide to enter your property’s value in this calculator.
Why Is Equity So Important?
The equity in your home is usually the biggest asset you have. You can use your equity to make improvements to your home, buy investments or even help family members with a deposit for their first home. People who have little equity in their property when they reach retirement age may be forced to either downsize or continue working to repay the debt. So, you should aim to make optimum use of your equity and also be in a position to repay your home loan before you retire.
How Can You Access Your Home Equity?
To access your home equity, you must refinance your current home loan. This would involve taking out a new home loan for an amount greater than your existing loan and using the extra money to access your equity. The most common home equity loans are cash-out loans and using your equity in your current home to purchase another property. You can also use a line of credit or reverse mortgage to access your equity. A reverse mortgage and line of credit are a way to borrow money from your home. You can use the money for things like fixing your house or buying a new one. A line of credit is accessible to anyone with some equity in their home, but for a reverse mortgage, you first have to be at least 62 years old and fully own your home. The bank will give you a loan, and then you will pay that loan back over time with interest. However, these products are more expensive and should only be considered a last resort.
Is Accessing Your Home Equity Difficult?
Your home equity loan may be subject to equity release restrictions, also known as cash-out restrictions, which most banks have. Luckily, a cash-out equity loan is the only type of equity release loan that has such a restriction, plus, not all lenders have a strict cash-out policy so you can check with your lender regarding this. The funds released can then be used for any worthwhile purpose, including renovating your home, investing in property or consolidating debts.
How Can Your Home Equity Change?
The equity in your home can either increase or decrease. Your home equity can increase if you make timely repayments on your mortgage or if the price of your property increases in the market. Similarly, it can decrease if you refinance and release some of your equity or if the value of your property decreases. When it comes to taking a home equity loan, you are choosing to decrease the equity you have built up in your home. So, be certain you are making a wise investment with the released equity. Minimising unnecessary spending, making optimum use of the released equity, and aiming to pay off your home loan as soon as possible should be your goal.
Get A Home Equity Loan, Today!
We can help you get an equity-release home loan with the lender of your choice in the fastest turnaround time possible. Please call us on 0862430351 or complete our free online assessment form and one of our mortgage brokers can assist you in accessing your equity.
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Complete our free assessment form or call us.
2
We assess your situation.
3
We look at all the options from our panel of lenders.
4
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Testimonial
4.7 from 720+ reviews
4.6 from 420+ reviews
4.8 from 1600+ reviews
Vikam Khokher
“ A big thank you to the amazing team at Sunrise Finance WA! Satish and his team provided outstanding support, guiding us every step of the way and making the entire process seamless. Truly exceptional service! ”
Vijay Samdhyan
" We've had the pleasure of working with Satish and his team multiple times, and their service has always been exceptional. Their clear communication and expert guidance have made every step effortless, helping us achieve our financial goals with ease. ”
Jordan
“ Satish and his team first helped us secure our home loan, and more recently, they made refinancing effortless by finding us the best deal. Their expertise, guidance, and exceptional customer service have been invaluable—we couldn’t be more grateful! ”
Glenn Ramiez
“ Sunrise Finance WA provided an outstanding experience from start to finish. Their transparency, clear communication, and attention to detail made the entire process seamless. They went the extra mile with timely follow-ups and flexible support, ensuring a stress-free journey. ”
Reuben David
“ A huge thank you to Sunrise Finance WA for their exceptional support with our loan. Their professionalism, friendliness, and clear communication made the entire process smooth and stress-free. It was truly a pleasure working with them! ”
Ravinder Kalyan
“ We've trusted Sunrise Finance WA with our investment properties, and they continue to exceed our expectations. Their team is fast, reliable, and dedicated to getting the job done right—exactly what every investor needs. ”
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