Home Equity Loan Calculator
Borrowable equity and fixed monthly payment.
Optional
Leave blank to use the maximum.
Your result
—
Enter your numbers to see the result.
This home equity loan calculator shows how much you may be able to borrow against your home and what the loan will cost. Lenders usually let your total mortgage debt reach 80% to 90% of the home’s value (the combined loan-to-value, or CLTV). Enter your home value, mortgage balance and the lender’s CLTV limit to see your borrowable equity, then your fixed monthly payment and total interest.
What is a Home Equity Loan Calculator?
A home equity loan is a second mortgage that lets you borrow a lump sum against the equity in your home, the difference between its value and what you owe. It has a fixed rate and fixed monthly payments over a set term, often 5 to 30 years.
Lenders cap how much you can borrow using the combined loan-to-value ratio (CLTV): your existing mortgage plus the new loan, divided by the home’s value. Common limits are 80% to 90%. This home equity loan calculator applies that limit and shows the payment on the amount you need.
How does the Home Equity Loan Calculator work?
The calculator multiplies the home value by the CLTV limit and subtracts your mortgage balance to find the maximum loan. It uses your requested amount (capped at that maximum) and the standard loan payment formula to work out the fixed monthly payment and total interest.
How to use the Home Equity Loan Calculator step by step
- Enter your home value and mortgage balance.
- Enter the lender’s maximum CLTV.
- Enter the amount you want, or leave it blank for the maximum.
- Enter the rate and term.
- Read your payment and total interest.
- Compare with a HELOC or cash-out refinance.
Home Equity Loan Calculator example with real numbers
Lisa’s home is worth $450,000 and she owes $250,000. Her credit union lends up to 85% CLTV, and she wants $50,000 for a kitchen remodel over 15 years at 8.25%.
| Example input | Value |
|---|---|
| Current home value | $450,000 |
| Mortgage balance | $250,000 |
| Lender's maximum CLTV | 85% |
| Amount you want to borrow (optional) | $50,000 |
| Interest rate | 8.25% |
| Loan term | 15 years |
| Example output | Value |
|---|---|
| Monthly payment | $485 |
| Maximum you could borrow | $132,500 |
| Your equity today | $200,000 (44.4%) |
| Amount used | $50,000 |
| Total interest | $37,313 |
| New combined loan-to-value | 66.7% |
| Equity left after the loan | $150,000 |
She could borrow up to $132,500. The home equity loan calculator shows a payment of $485 on $50,000, with $37,313 of interest over the term.
Key features of this Home Equity Loan Calculator
- Maximum borrowable equity
- CLTV limit
- Fixed payment and interest
- Equity left after borrowing
- Capped amount warning
Who should use the Home Equity Loan Calculator?
Who is this Home Equity Loan Calculator for?
- Homeowners planning renovations
- People consolidating high-interest debt
- Families paying for education
- Anyone comparing equity options
Practical use cases
- Checking how much you can borrow
- Pricing a remodel loan
- Comparing terms of 10, 15 and 20 years
- Deciding between a home equity loan and a HELOC
Key benefits
- Clear limit: borrowable equity.
- Predictable: fixed payment.
- Safe view: equity left.
- Private: runs in your browser.
Tips for better results
- Get a realistic home value from recent sales or an appraisal.
- Shop several lenders; CLTV limits and rates vary.
- Interest may be tax-deductible only if used to buy, build or substantially improve the home.
- Avoid borrowing the maximum; leave a cushion if prices fall.
Common mistakes to avoid
- Overestimating your home’s value.
- Using home equity for everyday spending.
- Ignoring closing costs.
- Forgetting your home is collateral.
Limitations of this Home Equity Loan Calculator
- Approval depends on credit and income.
- Closing costs are not included.
- Home values change.
Home Equity Loan Calculator vs other ways to calculate
| Option | Rate | Payout |
|---|---|---|
| Home equity loan | Fixed | Lump sum |
| HELOC | Usually variable | Draw as needed |
| Cash-out refinance | New first mortgage rate | Lump sum, replaces mortgage |
For a line of credit you draw as needed, use the HELOC calculator. To replace your mortgage, try the refinance calculator.
Privacy and data handling
This Home Equity Loan Calculator runs entirely in your browser. The numbers you type are not sent to Qorico or stored on any server, and nothing is saved after you close the page. The Copy and Download buttons create the result on your own device. If the page has analytics turned on, it may count that a calculation happened, but it does not record the values you entered.
Home Equity Loan Calculator FAQs
How much can I borrow with a home equity loan?
Typically up to 80% to 90% of your home’s value, minus what you owe on your mortgage.
What is CLTV?
Combined loan-to-value: all loans secured by the home divided by its value.
Is a home equity loan fixed or variable?
Usually fixed, with equal monthly payments.
Home equity loan or HELOC?
A home equity loan suits a one-time expense with a known cost; a HELOC suits ongoing or uncertain costs.
Is home equity loan interest tax-deductible?
Only if the money is used to buy, build or substantially improve the home securing the loan, within IRS limits.
What credit score do I need?
Many lenders look for 620 to 680 or higher, plus a manageable debt-to-income ratio.
Related tools
Sources and references
We checked the method and the current figures used in this Home Equity Loan Calculator against these official and primary sources:
- CFPB: What is a home equity line of credit (HELOC)?
- Consumer Financial Protection Bureau
- CFPB: Owning a home
- IRS Publication 936: Home mortgage interest deduction
Written and reviewed by the Qorico Team
