Finance

HELOC Calculator

Calculate your available home equity line of credit and estimated monthly payments.

Home Value ($)

Mortgage Balance ($)

HELOC Amount Desired ($)

HELOC Interest Rate (%)

Max CLTV (%)

Most lenders: 80-90%

Draw Period (years)

Formula:
Max HELOC = (Home Value × Max CLTV%) − Mortgage Balance
Interest-Only Payment = Balance × Rate / 12
Available Equity = Home Value − Mortgage

How HELOCs Work

A HELOC is a revolving credit line secured by your home equity. During the draw period (typically 10 years), you only pay interest on what you borrow. After that, you enter repayment with P+I payments.