- Home
- Finance & Loans
- Home Equity Loan Calculator
Home Equity Loan Calculator
Enter your home’s value, what you still owe and your lender’s combined loan-to-value limit to see the most you can borrow against your home. Then enter the amount, rate and term you are considering to get the fixed monthly payment, the total interest and the equity you will have left.
- Monthly payment
- $485.07
- Loan amount used
- $50,000.00
- Total interest
- $37,312.63
- Total of all payments
- $87,312.63
- Your equity now
- $150,000.00
- Combined LTV with the new loan
- 75%
- Existing loans
- $250,000.00
- Equity left after the loan
- $100,000.00
Payoff schedule by year
| Period | Principal | Interest | Balance |
|---|
Saved setups
Save a set of inputs you reuse — your usual rate, your loan, your room sizes — and load it back in one tap.
Your recent calculations
Results you calculate here are kept on this device so you can come back to them.
Formula
How to use it
- Enter a realistic home value and your mortgage balance, plus any HELOC or second mortgage.
- Enter the lender’s CLTV limit; 80–90% is typical.
- Enter the amount you want, or leave it blank to use the maximum.
- Enter the rate and term to see the payment and the payoff schedule.
Worked examples
A $400,000 home with $250,000 owed, an 85% limit, borrowing $50,000 for 15 years at 8.25%
- Most you can borrow
- $90,000.00
- Monthly payment
- $485.07
- Total interest
- $37,312.63
- Total of all payments
- $87,312.63
- Your equity now
- $150,000.00
- Combined LTV with the new loan
- 75%
- Equity left after the loan
- $100,000.00
Borrowing the most allowed at 80% CLTV on a $500,000 home with $300,000 owed, 10 years at 7.5%
- Most you can borrow
- $100,000.00
- Loan amount used
- $100,000.00
- Monthly payment
- $1,187.02
- Total interest
- $42,442.12
- Combined LTV with the new loan
- 80%
A $300,000 home with $250,000 of loans: asking for $30,000 when only $5,000 fits under 85%
- Most you can borrow
- $5,000.00
- Monthly payment
- $269.92
- Combined LTV with the new loan
- 93.33%
- Your equity now
- $50,000.00
- Equity left after the loan
- $20,000.00
How lenders size a home equity loan
Lenders cap the total of all loans secured by the home at a share of its appraised value — the combined loan-to-value ratio. On a $400,000 home with $250,000 owed and an 85% limit, the cap is $340,000, so you can borrow up to $90,000. They also check your credit and debt-to-income ratio, so the approved amount can be lower.
US rules worth knowing
A home equity loan is a second mortgage: you can lose the home if you do not repay it. For a loan on your main home, federal law gives you three business days after closing to cancel without penalty. Under current US federal rules, the interest is deductible only if you itemize and the money is used to buy, build or substantially improve the home that secures the loan.
A home equity loan pays a lump sum at a fixed rate; a HELOC is a reusable credit line, usually at a variable rate. This calculator gives an estimate, not a loan offer or tax advice.
Questions people ask
How much can I borrow with a home equity loan?
Home value × the lender’s CLTV limit, minus what you owe. A $400,000 home with a $250,000 mortgage at an 85% limit allows up to $90,000; at 80% it would be $70,000.
What is the payment on a $50,000 home equity loan?
At 8.25% over 15 years, $485.07 a month, with $37,312.63 of interest in total.
What if I ask for more than the limit allows?
The lender will cut the amount or decline. Asking for $30,000 on a $300,000 home that already carries $250,000 of loans would take the combined LTV to 93.33%, but at an 85% limit only $5,000 is available.