Using the Equity Estimator Tool
Overview
The Equity Estimator is a powerful qualification tool that helps you quickly determine if a property is eligible for a HouseAmp loan during initial conversations with potential clients.
Where to Find It
The Equity Estimator is located on the right side of your Borrowers dashboard.
How to Use the Equity Estimator
| Step 1: Enter Property Information Enter the property address in the address field, select the state from the dropdown menu, and enter the zip code. |
| Step 2: Calculate Click the "Calculate Equity" button. |
| Step 3: Review Results The system instantly analyzes the property and provides an estimate of available equity that will be used during the application process. |
When to Use the Equity Estimator
🤝 During Initial ConsultationsGet an immediate answer about property eligibility without requiring the borrower to complete a full application. | 📞 On Calls with SellersQuickly determine if the property has sufficient equity to support the desired improvements. |
🏡 During Agent MeetingsDemonstrate the program and show agents how to identify qualified opportunities. | 🔍 When Following Up with LeadsPre-qualify opportunities before investing time in detailed conversations. |
Understanding the Results
The equity estimate shows the approximate amount available for pre-sale improvements based on:
| 🏠 Current property value (estimated) |
| 🏦 Outstanding mortgage balance (if reported) |
| 📊 Available equity position |
⚠️ Important Note: This is an estimate for qualification purposes. The final loan amount will be determined during the full underwriting process.
Best Practices
| ✅ Use the Equity Estimator liberally during prospect conversations |
| 📋 Keep the results as a reference when discussing improvement budgets |
| 🔔 Remember this is a qualification tool, not a final approval |
| 🤝 Share results with referring agents to demonstrate program value |
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How accurate is the Equity Estimator?
The Equity Estimator provides a good initial estimate based on public records and property data. However, the final loan amount is determined during the full underwriting process. Need Help? Email: support@houseamp.com Phone: (877) 537-2643Can I use the Equity Estimator before inviting a borrower to the platform?
Yes. The Equity Estimator is available directly from your dashboard and doesn't require the borrower to be registered. Need Help? Email: support@houseamp.com Phone: (877) 537-2643What if the Equity Estimator shows insufficient equity?
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