HELOC Calculator
This HELOC calculator estimates how much home equity you could borrow against, and what a home equity line of credit actually costs across its two phases: interest-only payments during the draw period, then full repayment afterward. Enter your home's value, existing mortgage, and draw amount to see both.
Your home's current estimated market value.
What you still owe on your primary mortgage.
How much of your available equity you plan to actually borrow.
Typically variable, tied to the prime rate.
Years you can borrow and make interest-only payments before repayment begins.
Years to fully repay the drawn balance after the draw period ends.
Maximum available to borrow
सेव करने के लिए लॉग इन करें$120,000
An estimate based on an 85% combined loan-to-value cap, common among HELOC lenders.
Frequently asked questions
What's the difference between a HELOC and a home equity loan?+
A HELOC is a revolving credit line you can draw from repeatedly during the draw period, with a variable rate. A home equity loan is a single lump sum with a fixed rate and fixed repayment schedule from day one — more like a second mortgage.
Can I pay down principal during the draw period?+
Yes, and it's usually a good idea if you can — any extra payment during the draw period reduces the balance the repayment-period payment will be calculated on, lowering that future payment.
Why is the 85% loan-to-value figure just an estimate?+
Actual limits vary by lender, your credit profile, and location — some lenders go up to 90% or cap it lower. Treat this as a planning estimate and confirm your real available line with a lender.
