Home Equity Loan Calculator
Estimate how much you can borrow against home equity and calculate a fixed monthly payment. It’s useful for comparing fixed-rate home equity loans versus HELOCs, especially for large one-time expenses.
Inputs
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Results
Estimated max borrowable
$100,000.00
Monthly payment$606.64
Total interest$22,796.56
Payoff dateDec 21, 2035
How to use it
- Enter home value, current mortgage balance, and LTV limit.
- Enter the loan amount you want to borrow (up to the max).
- Choose rate and term to see estimated payment.
- Review total interest and payoff details.
FAQ
Home equity loans are usually fixed-rate with fixed payments. HELOCs are revolving lines with variable rates more often.
Many lenders set a maximum combined loan-to-value (CLTV). This tool estimates a maximum based on your home value, current mortgage balance, and an LTV/CLTV limit.
Home equity loans are typically amortized like a standard installment loan. The payment is based on principal, rate, and term.
Many home equity loans are fixed-rate, but products vary. Always confirm whether the rate and payment are fixed for the full term.
No. If fees are financed into the loan, you can add them to the loan amount to model the impact on payments and interest.
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Disclaimer
Estimates only. Loan terms vary and may include fees. Not financial or tax advice.