Underwater Mortgage Calculator
KnowEquitySM How

Tell us your time frame, and we’ll tell you what it’ll take to get above water.

If you're underwater in your mortgage, you're not alone. Even after the HARP program ran for many years, tens of thousands of homeowners are in the same boat. Even if you are eligible for refinancing under the GSE-backed streamline refinancing program, you'll still be underwater for some time.

But what if you have a goal in mind, such as "I want to sell this home for market price in five years with enough equity to cover all costs"? Or even "When will I fully recover the price I paid for my home?" What sort of market conditions and additional payments will it take for you to get where you want to go or need to be?

The question, then, is "How can I reach my equity goal in my time frame?"

Getting your mortgage back above water depends upon three things: the continued payment of your mortgage (amortization), how quickly home prices recover in your area (appreciation), and any additional mortgage payments you might make along the way (prepayment).

It is the intersection of these three factors that will tell you the exact date. Stronger home price appreciation or greater prepayments will speed up the time, while regular amortization will take the longest.

A time frame that is considerably shorter than the full term of the mortgage will require a boost from market appreciation and/or an additional commitment of paying down the mortgage from you. But how much? There are many potential intersections of these two factors -- appreciation and prepayment -- and the calculator will show you a number of possibilities that can help you to achieve your goal.

Keep in mind that "equity" begins when your home's value is higher than what you still owe on your mortgage. Just because you are into positive territory doesn't mean that you have recovered the full price of the home.

While this calculator will give you a result to fit your desired time frame, you may want to tweak and tune them to specify a given level of appreciation or the amount of prepayment you can or want to make. Check out KnowEquity When and you can know exactly when you'll be in the black again!

How Can I Reach My Equity Goal In My Time Frame?


Please enter valid loan amount

Please enter valid interest rate

Please select a Desired Breakeven date in the future

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Current Estimated Home Value:
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Your Current Loan Balance:
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Your Current Estimated Equity:
(- of home value)
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