FormulaDen logo
FormulaDen.com
Search
Physics Chemistry Math Chemical Engineering Civil Electrical Electronics Electronics and Instrumentation Materials Science Mechanical Production Engineering Financial Health

Home Equity Loan Formula

Fx Copy
LaTeX Copy
Home Equity Loan is a secured loan where an individual can borrow money against the equity of their home. Check FAQs
HEQL=MV-OP
HEQL - Home Equity Loan?MV - Market Value of Property?OP - Outstanding Principal Balance of Loan?

Home Equity Loan Example

With values
With units
Only example

Here is how the Home Equity Loan equation looks like with Values.

Here is how the Home Equity Loan equation looks like with Units.

Here is how the Home Equity Loan equation looks like.

448000Edit=705500Edit-257500Edit
Solution
Copy
Reset
Share
You are here -
HomeIcon Home » Category Financial » Category Investment Banking » fx Home Equity Loan

Home Equity Loan Solution

Follow our step by step solution on how to calculate Home Equity Loan?

FIRST Step Consider the formula
HEQL=MV-OP
Next Step Substitute values of Variables
∴ HEQL=705500-257500
Next Step Prepare to Evaluate
∴ HEQL=705500-257500
LAST Step Evaluate
∴HEQL=448000

Home Equity Loan Formula Elements

Variables
Home Equity Loan
Home Equity Loan is a secured loan where an individual can borrow money against the equity of their home.
Symbol: HEQL
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Home Equity LoanOpen Variable
Market Value of Property
Market Value of Property refers to the estimated price that a property would sell for on the open market under normal conditions.
Symbol: MV
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Market Value of PropertyOpen Variable
Outstanding Principal Balance of Loan
Outstanding Principal Balance of Loan refers to the amount of money that a borrower still owes to the lender on a loan.
Symbol: OP
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Outstanding Principal Balance of LoanOpen Variable

Other formulas in Investment Banking category

​Go Adjustable Rate Mortgage
ADRM=(P⋅R)⋅(1+R)np(1+R)np-1
​Go Churn Rate for Customers
CRT=(TNCLPTNCCBP)⋅100
​Go 401(K) Calculator
KCL=O⋅(1+R)F⋅npk+(FARI)⋅((1+R)F⋅npk)-(1R)
​Go Asset Allocation
AA=100-A

How to Evaluate Home Equity Loan?

Home Equity Loan evaluator uses Home Equity Loan = Market Value of Property-Outstanding Principal Balance of Loan to evaluate the Home Equity Loan, Home Equity Loan represents the portion of the property that the homeowner truly owns outright. Home Equity Loan is denoted by HEQL symbol.

How to evaluate Home Equity Loan using this online evaluator? To use this online evaluator for Home Equity Loan, enter Market Value of Property (MV) & Outstanding Principal Balance of Loan (OP) and hit the calculate button.

FAQs on Home Equity Loan

What is the formula to find Home Equity Loan?
The formula of Home Equity Loan is expressed as Home Equity Loan = Market Value of Property-Outstanding Principal Balance of Loan. Here is an example- 448000 = 705500-257500.
How to calculate Home Equity Loan?
With Market Value of Property (MV) & Outstanding Principal Balance of Loan (OP) we can find Home Equity Loan using the formula - Home Equity Loan = Market Value of Property-Outstanding Principal Balance of Loan.
About | Contact | Disclaimer | Terms | Privacy Policy
© 2024. Developed & Maintained by softUsvista Inc.
Copied!