<p>when a college asks for "net worth of home/primary residence" on financial aid estimate forms, are they asking for the amount of home equity?</p>
<p>Do the questions look like this?
Since there is a seperate line for equity and worth- fill them out appropriately</p>
<p>40 Home
a What is the current market value? (Renters fill in "0" and skip to 40e.)
b What is owed on it?
c Year purchased (YYYY)
d Purchase price
e Monthly home mortgage or rental payment (If none, explain in Section P.)</p>
<p>No, that's not how it's presented. It's one, single question in the exact wording I presented. I'm sure I can check with the college, but I was interested in learning if this is a common term.</p>
<p>Yes, they are asking for the home equity, not the market value that you could expect to sell it for.</p>
<p>Be careful that you don't overvalue this number.</p>