HELOC Calculator
Estimate your available home equity, maximum HELOC amount, and interest-only monthly payment based on your home value, mortgage balance, lender loan-to-value limit, and interest rate.
Enter the current estimated value of your home.
Enter the amount you still owe on your primary mortgage.
Many lenders cap total borrowing around 80% to 90% of home value.
Enter the expected HELOC interest rate.
Optional. Leave blank to estimate payment using the maximum available HELOC amount.
How This Calculator Works
This calculator estimates how much you may be able to borrow through a home equity line of credit by comparing your home value, current mortgage balance, and the lender's maximum combined loan-to-value limit. It also estimates an interest-only payment based on the HELOC rate and amount.
Formula
Maximum HELOC = (Home Value * Max LTV%) - Current Mortgage Balance
Example
If your home is worth $450,000, your mortgage balance is $250,000, and your lender allows a maximum combined LTV of 80%, your total borrowing limit would be $360,000. That could leave up to $110,000 available through a HELOC, depending on lender requirements and approval factors.
Frequently Asked Questions
What is a HELOC?
A HELOC is a home equity line of credit. It lets you borrow against the equity in your home, usually with a revolving credit line and variable interest rate.
How much can I borrow with a HELOC?
It depends on your home value, current mortgage balance, credit profile, and the lender's maximum combined loan-to-value limit.
What is combined loan-to-value?
Combined loan-to-value, or CLTV, is the total of all loans secured by your home divided by the home's value.
Is the monthly payment interest-only?
This calculator estimates an interest-only payment. Actual HELOC payments may change depending on your lender, repayment phase, and whether principal payments are required.
Does having more equity always mean approval?
No. Lenders also review income, credit, debt-to-income ratio, and overall risk before approving a HELOC.