Home Equity Loan Calculator

Available equity, then the payment on a fixed loan. This is not a HELOC. Estimates, not a loan offer.

Smart Tips

• Available equity is home value times the combined loan-to-value, minus the mortgage you still owe.

• The 80% limit is an editable starting point, not a lender rule baked into the page.

• The payment amortizes from the first month. A HELOC draw is a different calculator.

• You type the rate. There is no home-equity rate quote.

The Formula

Equity = value × (LTV ÷ 100) − mortgage balance

Value= Home value
The figure you type

LTV= Combined limit
Percent of value you set

Balance= Mortgage still owed
Subtracted from the limit

Payment= Amortizing payment
On the loan amount you request

If the result of that subtraction is negative, available equity is zero and a new loan is rejected. The payment uses the standard amortization formula at the rate and term you type. Interest each month is the balance times the monthly rate, rounded to the cent.

Key Insights

Equity, then a loan

The page first shows how much room the combined limit leaves, then the payment on the amount you ask to borrow.

Not a line of credit

A home equity loan here is a fixed principal with an amortizing payment. The HELOC page keeps a draw period interest-only.

You set the ceiling

Change the combined loan-to-value if the offer in front of you uses a different limit.

Second-lien shape

The existing mortgage stays in the equity math. It is not refinanced on this page.

Frequently Asked Questions

Home value times the maximum combined loan-to-value you enter, minus the mortgage balance you still owe. The field starts at 80%, and you can change it. A negative result is shown as zero.

This loan is a fixed amount with an amortizing payment from the first month. A HELOC has an interest-only draw and then a repayment period. That is a separate calculator.

The page stops and names the available amount. It does not raise the combined loan-to-value for you.

You type it. The page does not quote a home equity rate.

Each year of the amortizing payment: interest, principal, the amount paid, and the balance after the last month of that year.

Available equity = home value × (maximum combined LTV ÷ 100) − current mortgage balance. The payment is the standard amortization formula on the loan amount. No lender limit table or rate feed is used. Source: CFPB home equity loan explainer: https://www.consumerfinance.gov/ask-cfpb/what-is-a-home-equity-loan-en-105/.

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Monthly payment

Enter values to calculate

Available equity

Total interest

Total paid

Payoff

Note:Available equity uses the combined loan-to-value you enter. The payment is principal and interest only. This is an estimate, not a home equity offer.