Home Equity & HELOC Calculators
Calculate home equity, HELOC payments, and loan-to-value ratios. Free home equity loan calculators to understand your borrowing power.
HELOC Calculator
Estimate your HELOC credit limit and monthly payments. See draw period interest-only costs, repayment period amortization, and total interest across the full HELOC lifecycle.
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HELOC Payment Calculator
Calculate HELOC payments for draw and repayment periods. Compare interest-only vs P&I payments, model rate changes, and see total interest across the full HELOC lifecycle.
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Home Equity Calculator
Calculate your home equity, loan-to-value ratio, and tappable equity in seconds. Enter your home value and mortgage balance to see how much you can borrow.
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Home Equity Loan Calculator
Calculate home equity loan payments, total interest, and amortization. Compare fixed-rate second mortgage costs across terms and see combined housing payment impact.
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Interest-Only Mortgage Calculator
Calculate interest-only mortgage payments, see the payment shock when principal repayment begins, and compare the lifetime cost against a standard amortizing loan.
Use CalculatorTapping Into Your Home Equity
Home equity builds over time through two forces: mortgage principal payments and property appreciation. If you bought a home for $300,000 five years ago with 10% down and it is now worth $360,000, your equity has grown from $30,000 to roughly $145,000 between appreciation and the principal you have paid down. That accumulated equity represents real borrowing power you can access for renovations, debt consolidation, or major expenses without selling your home.
There are two main ways to tap that equity. A HELOC works like a credit card tied to your home: you get a credit limit, draw funds as needed during a draw period (usually 10 years), and pay variable interest only on what you use. A home equity loan gives you a lump sum upfront with a fixed rate and predictable monthly payments, which works better when you know the exact amount you need. Either way, lenders typically require you to keep at least 15-20% equity in the home after the loan, so your combined loan-to-value ratio cannot exceed 80-85%. If you are still paying down your primary mortgage, our mortgage payment calculators can help you see how quickly you are building equity with each payment.
Before applying for a HELOC or home equity loan, compare the costs against a cash-out refinance. Refinancing replaces your entire mortgage with a new, larger loan at current rates, which can make sense if today's rates are lower than your existing rate. If your current rate is already competitive, a HELOC or home equity loan lets you keep that low rate on your primary mortgage while borrowing only the additional amount you need. Explore our mortgage refinance calculators to compare both options side by side.