Home Equity Loan Calculator
Calculate your home equity loan or HELOC payments and borrowing power
Fixed rate for Home Equity Loan
Home Equity Loan Results
Available Equity$0
Max Loan Amount (80% LTV)$0
Loan-to-Value (LTV)0%
Combined LTV0%
Monthly Payment$0
Total Interest$0
Total Cost of Loan$0
About Home Equity Loans & HELOCs
Home equity loans and HELOCs allow you to borrow against the equity in your home. Your home serves as collateral, which typically results in lower interest rates than unsecured loans or credit cards.
Home Equity Loan vs HELOC
| Feature | Home Equity Loan | HELOC |
|---|---|---|
| Interest Rate | Fixed | Variable |
| Funds Received | Lump sum | As needed (draw period) |
| Payment | Fixed monthly | Varies with balance & rate |
| Best For | One-time expenses | Ongoing/project expenses |
| Typical Draw Period | N/A | 5–10 years |
Common Uses
- Home Improvements: Adds value to your home and may be tax-deductible
- Debt Consolidation: Lower interest rate than credit cards
- Education Expenses: May offer better rates than student loans
- Emergency Fund: HELOC can serve as a financial safety net
Important Considerations
- Your home is collateral — defaulting could lead to foreclosure
- Most lenders cap borrowing at 80% LTV (combined with your first mortgage)
- Closing costs typically run 2%–5% of the loan amount
- Interest may be tax-deductible if funds are used for home improvements (consult a tax advisor)
About this Calculator
The Home Equity Calculator is a free, easy-to-use tool for HELOC, loan, equity. Simply enter your values and get instant, accurate results — no signup, no ads, no tracking. All calculations run locally in your browser, so your data stays completely private.
Privacy Note: All calculations are performed locally in your browser. No data is ever sent to a server or third party.