Available Home Equity
Estimated available credit starts with the home's value multiplied by the selected maximum CLTV. Your existing mortgage balance is then subtracted from that amount.
HELOC Calculator
HELOC Calculator
Estimate your available home equity line of credit, monthly interest payment, and repayment payment. Drag the sliders or enter exact values.
$50K $3M
$0 $3M
50% 95%
Your lender may use a different maximum CLTV.
$1K $1M
$0 $1M
Enter the amount already drawn from the HELOC.
0% 20%
During the draw period, many HELOCs allow interest-only payments.
Estimated fully amortizing payment after the draw period.
HELOC planning model: available credit is estimated from home value and maximum CLTV, while monthly draw-period cost is calculated from the current HELOC balance and interest rate.
Estimated HELOC Results
See your estimated available credit, current combined loan-to-value ratio, and monthly payment.
Estimated Available HELOC
$0.00
Monthly Interest Payment
$0.00
Estimated Repayment Payment
$0.00
Combined Loan Balance
$0.00
Current CLTV
0.0%
Unused HELOC Credit
$0.00
Total Drawn
$0.00
HELOC Credit Utilization
Drawn: 0% Available: 100%
The selected HELOC draw exceeds the estimated available credit.
HELOC Rate vs. Monthly Payment
Current rate: 8.00%
The chart keeps your current HELOC balance and repayment assumptions unchanged while showing how different rates affect the estimated monthly interest payment.
HELOC rates are often variable, and actual lender terms, fees, payment rules, credit limits and qualification criteria vary.
HELOC Interest Rate Scenario Comparison
Compare estimated monthly interest payments at lower, current and higher HELOC rates.
| Scenario | Rate | Monthly Interest | Annual Interest | Repayment Payment |
|---|
How a HELOC Calculator Works
A HELOC uses home equity as collateral for a revolving line of credit. The amount available depends on your home's value, existing mortgage balance and lender limits.
HELOC Credit Limit
The calculated equity-based amount is compared with the HELOC credit limit entered above. The lower amount is used as the estimated maximum line.
Interest-Only Payment
The draw-period estimate uses the current HELOC balance and annual interest rate to calculate an interest-only monthly payment.
Repayment Payment
After the draw period, a HELOC may require principal and interest payments. This calculator estimates an amortizing payment over the selected repayment period.
This calculator is a planning estimate. Actual HELOC terms may include variable rates, annual fees, minimum payment rules, balloon payments, closing costs, appraisal requirements and lender-specific CLTV limits.
HELOC Calculator FAQ
How much HELOC can I get?
A HELOC amount generally depends on your home's value, existing mortgage balance, lender-specific maximum CLTV, credit profile and the lender's maximum line size. This calculator estimates the amount based on the values you enter.
How is HELOC available credit calculated?
The calculator estimates the equity-based limit by multiplying home value by the selected maximum CLTV and subtracting your existing mortgage balance. It then compares that amount with the HELOC credit limit entered in the calculator.
How much is the monthly payment on a HELOC?
The payment depends on the balance, interest rate and the lender's payment structure. During a draw period, a HELOC may use an interest-only payment calculation. During the repayment period, principal may also be required.
Are HELOC interest rates fixed?
Many HELOCs use variable interest rates, although specific products can have different rate structures. A changing rate can change the required monthly payment over time.
Is a HELOC the same as a home equity loan?
A HELOC is typically a revolving line of credit that lets borrowers draw funds as needed up to a credit limit. A home equity loan generally provides a lump-sum amount that is repaid according to a fixed schedule.