The estimates are updated in SoFi each month from the day you added your property. Newly purchased homes or homes in less populous areas may take time for estimations to become available.

Our vendor Kukun’s home value is estimated to be 85–95% accurate. The accuracy depends on availability of data, including square footage, lot size, bed/bath count, and more, plus market transactions, and details on any updates or changes to the property that are registered with local appraisers. The data used for estimation is refreshed on a regular cadence to ensure it keeps up with any changes in the market, such as new sales and listings.

Keep in mind these values are only estimates of your home’s current market value and should be used as a starting point. Always hire a professional appraiser or licensed real estate agent to get the most accurate market analysis for your home before buying or selling.

When you refinance your mortgage, you can use the equity you’ve built in your home to borrow more than you currently owe and keep the difference as cash.

You might use the money to invest in home improvements, consolidate high-interest debts, or pay for other pressing needs.

Property values can differ on different sites, as there is not a single right answer. Estimations are used in various ways, such as for purposes of getting a loan or to sell, these numbers can vary widely.

We get your home value from a property valuation company via our partner Kukun. The data comes from a 20-year veteran in the property valuation market and delivers advanced real estate valuation and data solutions to 47 of the top 50 lenders, who use this data for different purposes in the mortgage-lending process.

Home equity is the difference between your home value and what you owe on your mortgage. It can change as you pay off your mortgage or when the market value of your home increases or decreases.

We already know your loan term, the date when you got your loan, and your monthly payment. If you shared your interest rate, we’re able to use those three numbers to figure out your remaining balance for previous months. This estimate assumes that you have not refinanced, made any loan modifications, or changes to your monthly payment. For more info about your mortgage balance, review your mortgage statements and credit report, or contact your mortgage servicer.