Current home purchased 4 years ago for $200,000 with 5% down
Current Property Value = $210,000
Original loan amount = $190,000
Interest rate = 6% with monthly mortgage insurance
Current Loan Amount = $179,750
Sell Property At Current Value = $210,000
Payoff current loan = (179,750)
Real Estate Commission (6%) = (12,600)
Total Proceeds to you = $17,650