Home Equity Loan Calculator

Calculate monthly payments for a home equity loan.

Calculator Inputs

Enter your details and click "Calculate" to see your results

About This Calculator

Calculate monthly payments for a home equity loan. This calculator helps you make informed financial decisions by providing accurate calculations and detailed breakdowns.

Use this tool to plan your finances, compare options, and understand the long-term impact of your financial decisions.

Home Equity Loan Formulas

Available Equity Formula

Available Equity = (Home Value × Max LTV) - Mortgage Balance
  • Max LTV = Typically 80-85% for home equity loans
  • Mortgage Balance = Remaining amount on primary mortgage

Combined LTV (CLTV)

CLTV = (Primary Mortgage + Home Equity Loan) / Home Value × 100%

Most lenders require CLTV of 80% or less for best rates.

Example

$400,000 home with $250,000 mortgage balance:

  • • Max borrowing (80% LTV): $400,000 × 0.80 = $320,000
  • • Available equity: $320,000 - $250,000 = $70,000
  • • CLTV if you borrow max: 80%

Frequently Asked Questions

How accurate are these calculations?

Our calculators use industry-standard formulas and are designed to provide accurate estimates. However, actual results may vary based on your specific situation and lender terms.

Can I trust these results?

Yes, our calculations are based on proven financial formulas. However, always consult with a financial advisor for personalized advice.