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Enter your home's value and what you still owe. Most lenders allow a combined loan-to-value of 80% to 85%.
How much equity can I borrow?
Everything happens on your device: nothing is uploaded to the internet.
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HELOC and home equity calculator: what it is for
Enter your home value, your mortgage balance and the lender's maximum combined loan-to-value. The calculator shows your equity, the most you can borrow and your CLTV after borrowing. Enter the amount you plan to draw, the rate and the draw and repayment periods to see the interest-only payment during the draw period and the principal and interest payment afterward, plus a home equity loan payment for comparison.
Your actual limit also depends on your credit score, income and debt-to-income ratio, and HELOC rates are usually variable.
How to use
- Enter the home value and mortgage balance.
- Choose the CLTV and the amount to borrow.
- Read the limit and the payments.
When to use it
- Home improvement projects.
- Consolidating higher-rate debt.
- Comparing a HELOC with a cash-out refi.
Frequently asked questions
How much can I borrow with a HELOC?
Multiply the home value by the lender's maximum CLTV and subtract what you owe on the mortgage. With a $400,000 home, an 85% CLTV and a $250,000 balance: $400,000 × 0.85 − $250,000 = $90,000.
What is the difference between a HELOC and a home equity loan?
A HELOC is a credit line with a variable rate: during the draw period (often 10 years) you borrow as needed and can pay interest only; then the repayment period starts and you pay principal and interest. A home equity loan is a lump sum with a fixed rate and fixed payments from the start.
Why can my HELOC payment jump?
Two reasons: the rate is usually variable, so it moves with the prime rate, and when the draw period ends, interest-only payments turn into principal and interest payments over the repayment period. The calculator shows both payments.
Is it really free?
Yes, 100% free. No sign-up, no subscription and no usage limits. All Tools123 tools are free and run right in your browser.