This home equity calculator estimates how much you can borrow against your home with a HELOC or a home equity loan. Most lenders cap your combined loan-to-value ratio (CLTV) at about 80% to 90%, so the calculator subtracts what you owe from that limit. It then estimates your payment, including the jump many HELOC borrowers face when the interest-only draw period ends.
Home Equity & HELOC Calculator
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How the borrowing limit is calculated
Multiply your home’s value by the lender’s maximum CLTV, then subtract all loans secured by the home. For example, 80% of a $400,000 home is $320,000. If you owe $250,000, you could borrow up to about $70,000.
Frequently asked questions
HELOC or home equity loan?
A home equity loan gives you a lump sum at a fixed rate. A HELOC is a variable-rate credit line you draw from as needed. Read our full home equity loan vs. HELOC comparison.
Is HELOC interest tax-deductible?
Only if you use the money to buy, build or substantially improve the home that secures the loan and you itemize deductions, within IRS limits.
Related: Lines of Credit Explained, Refinance Calculator, Loan Calculator, All Financial Calculators.