Home Equity & HELOC Calculator
Find how much you can borrow against your home with a HELOC or home equity loan, and estimate the interest-only and repayment payments.
For information and education only — not financial advice. Results are estimates based on the numbers you enter; check important decisions with a qualified professional.
How to use
- 1Enter your home's value, mortgage balance and the lender's maximum combined LTV.
- 2Enter how much you plan to draw and the rate to see payments.
How it's calculated
Available = value × max CLTV − mortgage balance. Draw-period payment (interest-only) = draw × rate ÷ 12. Repayment-period payment amortizes the draw over the repayment years.
Frequently asked questions
What CLTV do lenders allow?
Commonly 80–85% of the home's value across all loans secured on it, sometimes up to 90% for strong borrowers.
What's the difference between a HELOC and a home equity loan?
A HELOC is a revolving line with a variable rate you draw as needed; a home equity loan is a lump sum with a fixed rate and payment.
What happens after the draw period?
You start repaying principal too, so payments can jump sharply. Plan for the repayment payment, not just the interest-only one.