HELOC & Home Equity Loan Calculator
Find out how much you can borrow against your home and what it will cost each month. Enter your home value, your mortgage balance, and the lender’s combined loan-to-value (CLTV) limit — usually 80% to 85% — and the calculator shows the most a lender will let you borrow.
Then choose a HELOC or a fixed-rate home equity loan, enter the amount, rate, and term, and see the monthly payment, the total interest, and a year-by-year schedule. For a HELOC it shows both the interest-only draw-period payment and the higher payment once repayment begins, so the jump holds no surprises.
Example: you could borrow up to
$90,000
Based on example figures — a $400,000 home with a $250,000 mortgage at 85% CLTV. Enter your own home value and balance above for your real limit.
Monthly payment during the draw period (interest-only)
$354.17
- Total home equity
- $150,000
- Current loan-to-value
- 62.5%
- Combined LTV after borrowing
- 75.0%
- Payment in repayment period
- $433.91
- Total interest paid
- $96,639
- Total cost
- $146,639
Payment shock: when the 10-year draw period ends, the payment jumps from $354.17 to $433.91 as you start repaying principal. HELOC rates are usually variable, so both figures can move with the prime rate.
Balance over time
Amortization schedule (yearly)
| Year | Principal paid | Interest paid | Remaining balance |
|---|---|---|---|
| 1 | $0 | $4,250 | $50,000 |
| 2 | $0 | $4,250 | $50,000 |
| 3 | $0 | $4,250 | $50,000 |
| 4 | $0 | $4,250 | $50,000 |
| 5 | $0 | $4,250 | $50,000 |
| 6 | $0 | $4,250 | $50,000 |
| 7 | $0 | $4,250 | $50,000 |
| 8 | $0 | $4,250 | $50,000 |
| 9 | $0 | $4,250 | $50,000 |
| 10 | $0 | $4,250 | $50,000 |
| 11 | $995 | $4,212 | $49,005 |
| 12 | $1,083 | $4,124 | $47,922 |
| 13 | $1,179 | $4,028 | $46,743 |
| 14 | $1,283 | $3,924 | $45,460 |
| 15 | $1,396 | $3,811 | $44,064 |
| 16 | $1,520 | $3,687 | $42,544 |
| 17 | $1,654 | $3,553 | $40,890 |
| 18 | $1,800 | $3,407 | $39,089 |
| 19 | $1,960 | $3,247 | $37,130 |
| 20 | $2,133 | $3,074 | $34,997 |
| 21 | $2,321 | $2,886 | $32,676 |
| 22 | $2,526 | $2,681 | $30,149 |
| 23 | $2,750 | $2,457 | $27,399 |
| 24 | $2,993 | $2,214 | $24,407 |
| 25 | $3,257 | $1,950 | $21,149 |
| 26 | $3,545 | $1,662 | $17,604 |
| 27 | $3,859 | $1,348 | $13,746 |
| 28 | $4,200 | $1,007 | $9,546 |
| 29 | $4,571 | $636 | $4,975 |
| 30 | $4,975 | $232 | $0 |
Calculation Formulas
Lenders cap the total debt secured by your home — your existing mortgage plus the new loan or line — at a percentage of its appraised value, usually 80–85%. What is left under that cap is the most you can borrow.
Example:
A $400,000 home at an 85% CLTV cap allows $340,000 of total debt. With a $250,000 mortgage, you could borrow up to $90,000.
A home equity loan is a fixed-rate lump sum, so it uses the standard amortization formula: P is the amount borrowed, r is the monthly rate (APR ÷ 12), and n is the number of monthly payments.
Example:
$50,000 at 8.5% over 15 years → M ≈ $492/month.
During the draw period most HELOCs require interest-only payments on the balance you have used. When it ends, the balance amortizes over the repayment period. This calculator assumes the full amount is drawn up front and the rate stays constant.
Example:
$50,000 at 8.5%: ≈ $354/month interest-only for 10 years, then ≈ $434/month for 20 years.
Key Figures
| Figure | Value | Description |
|---|---|---|
| Typical max CLTV | 80–85% | Some lenders go to 90% for strong credit; a few cap at 75–80%. |
| Typical HELOC structure | 10-yr draw + 20-yr repay | Common, but check your agreement — some lines have 5- or 15-year draws. |
| Typical home equity loan term | 5–30 years | Shorter terms cost less interest; longer terms lower the payment. |
Note: Results are estimates for planning purposes. Rates, fees, taxes, and insurance vary by lender and location — confirm exact figures with a licensed professional before making financial decisions.
Standards & Sources
Last verified: September 2026
- Combined loan-to-value (CLTV) underwriting
Home equity lenders size the loan against the combined balance of every lien on the property. The CLTV limit you enter is the lender’s cap; your credit score, income, and debt-to-income ratio also affect approval and rate.
- Truth in Lending Act (TILA) — HELOC and home equity disclosures
Lenders must disclose the APR, draw and repayment terms, and — for HELOCs — how the variable rate is set (usually prime plus a margin), so you can compare offers on the figures entered here.
- Standard installment-loan amortization
Uses the same fixed-rate amortization engine as our mortgage and personal loan calculators, so payment and interest figures are directly comparable across loan types.
How to Use This Calculator
- Enter your home’s current value and what you still owe on your mortgage.
- Enter the lender’s maximum combined loan-to-value (CLTV) — 85% is common — to see how much equity you can borrow.
- Choose a HELOC or a home equity loan and enter the amount you want to borrow and the interest rate.
- Set the term (or the HELOC draw and repayment periods) and read your monthly payment, total interest, and the amortization schedule.
Frequently Asked Questions
How much can I borrow with a HELOC or home equity loan?
Multiply your home’s value by the lender’s maximum combined loan-to-value (CLTV), then subtract your mortgage balance. On a $400,000 home with an 85% limit and a $250,000 mortgage, that is $340,000 − $250,000 = $90,000. Credit score, income, and debt-to-income ratio also affect the final approval.
What is combined loan-to-value (CLTV)?
CLTV is the total of every loan secured by your home — your first mortgage plus any HELOC or home equity loan — divided by the home’s appraised value. Most lenders cap it at 80% to 85%, which means you keep at least 15% to 20% of the home’s value as equity no matter how much you borrow.
What is the difference between a HELOC and a home equity loan?
A home equity loan pays you a lump sum at a fixed rate with a fixed monthly payment. A HELOC is a revolving line of credit, usually at a variable rate: during the draw period you borrow as needed and often pay only interest, and afterward the balance is repaid with principal over a set repayment period.
Why does my HELOC payment go up after the draw period?
During the draw period many HELOCs require interest-only payments, so none of the balance is being paid down. When the draw period ends, the full balance must be repaid over the remaining term, which adds principal to every payment. This calculator shows both payments so you can plan for the increase.
Is HELOC or home equity loan interest tax-deductible?
Under current federal rules, interest on a HELOC or home equity loan is generally deductible only if you itemize and the money is used to buy, build, or substantially improve the home that secures the loan, subject to the overall mortgage-debt limit. Using the funds for other purposes, like paying off credit cards, does not qualify. Check with a tax professional for your situation.
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