Thinking about tapping into your home's equity? Our Home Equity Loan Calculator estimates the maximum amount you can borrow based on your home's value, existing mortgage balance, and typical loan-to-value (LTV) ratios set by lenders.
Estimate your maximum home price and monthly payment with our Affordability Calculator.
Our home equity loan calculator estimates how much you can borrow against your home and your monthly payment. Lenders typically allow up to 80%–90% of appraised value minus your mortgage balance.
Max borrowable = (Home value × Max LTV%) − Current mortgage balance
Your available equity = Home value − Mortgage balance. Lenders cap borrowing by combined loan-to-value (CLTV).
PMT = P × [r(1+r)n] / [(1+r)n − 1]
Where P = loan amount, r = monthly interest rate (annual ÷ 12), n = number of months. Early payments are mostly interest; over time more goes to principal.
Borrowing less than the maximum can improve approval odds. A shorter term raises monthly payments but reduces total interest paid.