@twoinanddone the equity is $73,000. Home was purchased for $150,000.
In reality…the equity MIGHT be more than $73,000. It sounds like the OP subtracted the loan balance from the original mortgage amount…when really equity is the CURRENT value minus the remaining mortgage. So if the property has appreciated in value…the equity could be higher!
ETA…regardless…this home MUST be listed on the FAFSA as an additional piece of real estate…unless there is something the OP has neglected to share here…like they sold the house.