Sorry for the stupid question, but I want to make sure. I know the college that D is applying EA to is will ask for home equity info, but I haven't had a chance to see the form yet since D hasn't gotten a log in ID yet.
Typically, will the college fin aid form ask for home selling price estimate or do they just need the amount you've paid off the mortgage?
Say we bought our home for $200,000 15 years ago. Lets' say $100,000 is paid off.
Is that all I need to know - the $100,000 paid versus $200,000 original mortgage?
Or do we need to figure out what the current market value of the house is?
And if so, how (zillow?) and then how does the market value impact the equity reported (is there any difference if market value is $250K or $300K etc)
Thanks.
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