It is easy to calculate your home equity. Just take the current value of your home and subtract how much you still own on it. Good to know Home equity = value of home - outstanding mortgage Let us consider an example. For example For example, Philip and Roberta have a single-family home in Hamilton, Ontario. It is valued a $1,000,000. They have been dutifully paying off their mortgage balance for 15 years and only owe another $150,000. Not only that, but the property has appreciated in value. They have $850,000 of home equity.