Definition: The mortgage home equity calculator is a device used by real estate professionals to estimate how much equity in a property can be used to generate monthly income on a loan. This tool works as follows: it looks at the current balance of your existing mortgage and calculates the total amount of equity you could potentially borrow through this calculation. This includes any unused cash value on the home, but also any equity in the bank account. So if you have $50,000 in an account with a 3% annual interest rate, for example, your calculator would estimate that you can potentially borrow $12,750 through this calculation. The goal of mortgage home equity calculator is to provide a clear and accurate picture of how much equity can be used to generate monthly income from the property. This is done by using real estate data and market trends to accurately predict how much equity each borrower will have in their property at any given time.
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