HELOC Calculator
HELOC calculator: see how much home equity you can borrow and the interest-only and repayment-period payments.
Editorial review: Farrow (pseudonym; identity and professional credentials are not disclosed). This page is for educational purposes, not professional advice.
Updated
Your inputs
Results update as you type. Nothing you enter leaves your device.
Results
- Interest-only payment (draw)
- $600.00
- Repayment-period payment
- $752.80
- Equity after full draw
- $60,000
Example with the starting values
These results use the calculator's initial inputs. Change the values above to calculate your own estimate.
Inputs
- Home value
- 400000 $
- Mortgage balance
- 250000 $
- Lender max CLTV
- 85 %
- HELOC rate
- 8 %
- Repayment term
- 20 years
Results
- Maximum credit line
- $90,000
- Interest-only payment (draw)
- $600.00
- Repayment-period payment
- $752.80
- Equity after full draw
- $60,000
How does the HELOC Calculator work?
Lenders cap total borrowing as a percentage of home value, called combined loan-to-value (CLTV). Your maximum line is value times that cap, minus your mortgage balance.
During the draw period you usually pay only interest on what you borrowed. Afterward the balance is repaid with fixed payments over the repayment term.
Frequently asked questions
How much can I borrow with a HELOC?
Most lenders allow up to 80% to 90% of your home's value across all loans, minus what you still owe on your mortgage.
Is HELOC interest variable?
Most HELOC rates are variable and tied to the prime rate, so payments can change. This calculator uses one fixed rate.
What is a draw period?
It is the first years, often 10, when you can borrow from the line and typically make interest-only payments.
Does a HELOC put my home at risk?
Yes. A HELOC is secured by your home, so missed payments can lead to foreclosure.