Estimate home equity loan payments, HELOC draw-period payments, available equity, combined LTV, total interest, and HEL vs HELOC borrowing costs.
Free Calculator
Estimate home equity loan payments, HELOC draw-period payments, available equity, CLTV, and HEL vs HELOC costs.
Estimated monthly payment
$992/mo10 years · 8.5% fixed-rate estimate| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Year 1 | $11,903 | $5,306 | $6,596 | $74,694 |
| Year 2 | $11,903 | $5,775 | $6,127 | $68,919 |
| Year 3 | $11,903 | $6,286 | $5,617 | $62,633 |
| Year 4 | $11,903 | $6,841 | $5,061 | $55,792 |
| Year 5 | $11,903 | $7,446 | $4,457 | $48,346 |
Formula
Home equity is the difference between the current home value and outstanding mortgage balance. Lenders usually limit borrowing using combined loan-to-value, so the calculator estimates how much equity may be available under the selected LTV limit.
HEL vs HELOC
A home equity loan usually has a fixed payment and fixed payoff schedule. A HELOC is more flexible but can have variable rates and a payment jump when the draw period ends. Compare both before deciding how to use home equity.
Use cases
Use it before borrowing against home equity for renovation, debt consolidation, education, emergencies, or comparing a fixed home equity loan with a HELOC.
Review the payment estimate, available equity, CLTV, and total cost before comparing lender offers.
Review the payment estimate, available equity, CLTV, and total cost before comparing lender offers.
Review the payment estimate, available equity, CLTV, and total cost before comparing lender offers.
Review the payment estimate, available equity, CLTV, and total cost before comparing lender offers.
Review the payment estimate, available equity, CLTV, and total cost before comparing lender offers.
Review the payment estimate, available equity, CLTV, and total cost before comparing lender offers.
Calculator details
Last updated: July 2026
Formula used
Home Equity Loan Calculator uses the values you enter to estimate totals, rates, percentages, payments, balances, or comparison results for planning.
Assumptions
Example calculation
Enter a simple home equity loan calculator scenario, review the estimated result, then adjust one input at a time to compare outcomes.
When to use this calculator
Estimate available home equity based on home value, mortgage balance, and lender LTV limit
Disclaimer
This calculator is for estimation and educational use only. It does not replace professional financial, tax, legal, mortgage, investment, or accounting advice.
Questions
A home equity loan calculator estimates how much equity may be available, the monthly payment on a fixed home equity loan, total interest, combined loan-to-value, and common borrowing scenarios.
Subtract your current mortgage balance from the amount a lender may allow you to borrow against, usually home value multiplied by a maximum LTV percentage.
A home equity loan is usually a fixed lump-sum loan with a fixed repayment schedule. A HELOC is a revolving credit line that can have interest-only draw-period payments and variable rates.
No. Results are estimates only. Actual approval and loan terms depend on lender rules, credit score, income, debt-to-income ratio, property value, lien position, fees, and underwriting review.
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