Calculate how much equity you can borrow against and the fixed payment on a home equity loan.
| Year | Payments | Principal | Interest | Ending balance |
|---|---|---|---|---|
| 2026 | $1,859.79 | $802.95 | $1,056.84 | $49,197.05 |
| 2027 | $7,439.14 | $3,387.34 | $4,051.80 | $45,809.71 |
| 2028 | $7,439.14 | $3,686.75 | $3,752.39 | $42,122.97 |
| 2029 | $7,439.14 | $4,012.62 | $3,426.52 | $38,110.34 |
| 2030 | $7,439.14 | $4,367.30 | $3,071.84 | $33,743.04 |
| 2031 | $7,439.14 | $4,753.33 | $2,685.81 | $28,989.71 |
| 2032 | $7,439.14 | $5,173.48 | $2,265.66 | $23,816.22 |
| 2033 | $7,439.14 | $5,630.77 | $1,808.37 | $18,185.45 |
| 2034 | $7,439.14 | $6,128.48 | $1,310.66 | $12,056.96 |
| 2035 | $7,439.14 | $6,670.19 | $768.96 | $5,386.78 |
| 2036 | $5,579.36 | $5,386.78 | $192.58 | $0.00 |
Please do not make financial decisions based on these results.
What is the Home Equity Loan Calculator?
A home equity loan lets you borrow a lump sum against the value you own in your home and repay it with fixed payments. The calculator shows how much equity you can tap and the payment.
Understanding home financing
Buying or financing a home involves a handful of numbers that interact: the price, the down payment, the interest rate, the loan term and the ongoing costs of ownership. The mortgage calculator combines them into a monthly payment, while the amortization calculator shows how each payment is split between interest and principal.
Costs beyond the loan
Property taxes, homeowners insurance, mortgage insurance, association dues and maintenance all add to the monthly cost of owning. Lenders also look at your debt-to-income ratio and your savings, so check what you can afford with the house affordability calculator before you start house hunting.
Changing the loan later
Once you own, you may want to lower the rate, shorten the term or borrow against your equity. The refinance calculator and the mortgage payoff calculator help you compare those choices with the loan you already have.
How to use the Home Equity Loan Calculator
- Fill in the fields. You will need Home value ($), Current mortgage balance ($), Max combined loan-to-value (%), Home equity loan amount ($), Interest rate (% per year), Loan term: years, Closing costs (% of loan). Use figures from a lender quote or your tax bill where you have them, and keep the term and rate realistic. Fields marked optional can stay at zero.
- Read the result. The highlighted box gives the Monthly payment, and the cards below show Equity in home, Maximum you could borrow, Combined LTV after loan. Tables and charts break it down further.
- Test other scenarios. Results update as you type. Change one value at a time to see what drives the answer, and press Reset to go back to the defaults.
Formula and how it works
Example with real numbers
Here is the Home Equity Loan Calculator using the default values shown in the calculator above:
Inputs
| Home value ($) | 450,000 |
|---|---|
| Current mortgage balance ($) | 250,000 |
| Max combined loan-to-value (%) | 85 |
| Home equity loan amount ($) | 50,000 |
| Interest rate (% per year) | 8.5 |
| Loan term: years | 10 |
| Closing costs (% of loan) | 2 |
Results
| Monthly payment | $619.93 |
|---|---|
| Equity in home | $200,000.00 |
| Maximum you could borrow | $132,500.00 |
| Combined LTV after loan | 66.67% |
| Closing costs | $1,000.00 |
| Total interest | $24,391.41 |
| Total of all payments | $74,391.41 |
| Time to pay off | 10 yrs |
With these inputs the calculator returns Monthly payment: $619.93. Change any value in the calculator to see how the result moves.
What the results tell you
The results panel of the Home Equity Loan Calculator reports Monthly payment, equity in home, maximum you could borrow, combined ltv after loan, closing costs, total interest and total of all payments. Compare these figures while changing one input at a time, and use the related calculators below to look at the same situation from another angle.
Tips for better results
Method and limits. This calculator applies the formula in the section above to your inputs, in your browser; nothing you enter is stored on our servers. The result is only as accurate as the numbers you enter and the formula shown above. It is for information, not financial, tax or legal advice.
Frequently asked questions
What combined LTV do lenders allow?
Typically up to about 80% to 90%.
How much equity can I borrow?
Most lenders let combined loans reach 80% to 90% of the home value, minus your current mortgage balance.
What is included in a monthly mortgage payment?
Principal and interest, plus property tax, homeowners insurance, PMI if your down payment is under 20%, and HOA fees if they apply.
How much house can I afford?
A common rule is to keep housing costs under about 28% of gross income and total debt under 36%. The House Affordability Calculator applies those limits to your numbers.
Are the results guaranteed?
No. Results depend entirely on the numbers you enter and the formulas shown on this page. Please do not make financial decisions based on them alone; confirm important figures with a licensed professional.
Related mortgage & real estate calculators
- Gift of Equity Calculator
- Home Value Calculator
- Jumbo Loan Calculator
- Pag-IBIG Housing Loan Calculator
- LTV Calculator — Loan to Value
- House Affordability Calculator
- Amortization Calculator
- Down Payment Calculator
- Real Estate Calculator
- Rent vs. Buy Calculator
- ARM Mortgage Calculator
- Mortgage Rate Calculator
All Mortgage & Real Estate calculators →