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What is Home Pulse?

SOLVEDby TurboTaxUpdated 5 days ago

What is Home Pulse?

Intuit Credit Karma Home Pulse is a snapshot of your home details, all in one place. An easy-to-read home equity and value graph helps you check on home finances at a glance. Plus, there may be better rates out there. We’ll give you recommendations to see if there’s a way to help you save. Finally, we offer personalized tools to help you manage home finances and stay on top of it all.

Go to the Credit Karma Home Pulse experience now.

Where does my estimated home value come from?

We get your home value from a property valuation company. They are a 20-year veteran in the property valuation market and deliver 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. They determine the value of your home using automated models. The model emulates the process of appraising a property, but by considering thousands of data points, such as value of previous and recent home sales, square footage of these sales, as well as known property details of your address, including it’s known lot size and bed/bath count.

Please note that the estimated value does not include a physical or visual inspection of the property or its neighborhood and is subject to the intellectual property rights of the property valuation company.

How accurate is the estimated home value that’s shown?

Our vendor’s home value estimate is 85–95% accurate. The accuracy depends on availability of data, including square footage, lot size, bed/bath count, and more. The data used for estimation is refreshed weekly to ensure it keeps up with any changes in the market, such as new sales and listings. Our vendor measures your home value estimate against all sales and appraisals within a 24 hour window to monitor accuracy over time.

Over the past 20 years, our vendor has built a database of 123,000,000 residential properties and uses data from these properties to predict home values.

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. Kindly note that the values are estimates and our vendor will not be liable for any claims arising from these estimates.

You currently aren’t able to update your home value shown on Credit Karma.

What is home equity?

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.

How does a cash-out refinance work?

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.

How did you calculate my mortgage balance from previous months?

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.

What is my Home Buying Power?

Check out the Credit Karma Home Buying Power experience.

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