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Calculation Machine

HELOC Calculator

How much home equity you can borrow.

Reviewed by the Calculation Machine team · How we check our maths

Your values

ⓘ Live results

Results
Available credit line
$135,000.00
Current equity
$210,000.00
Interest-only payment
$956.25
10-year repayment payment
$1,673.81
Current LTV
58%

Quick answer

Most lenders let you borrow up to 80–85% of your home's value minus your mortgage balance.

The formula

Available = Value × LTV − Mortgage balance

Worked example

Worked example

Using the values the calculator loads with.

Inputs

  • Home value500000 $
  • Mortgage balance290000 $
  • Max combined LTV85 %
  • HELOC rate8.5 %

Result

  • Available credit line$135,000.00
  • Current equity$210,000.00
  • Interest-only payment$956.25
  • 10-year repayment payment$1,673.81
  • Current LTV58%

How to use the HELOC Calculator

  1. 1Enter your home's current value.
  2. 2Enter your remaining mortgage balance.
  3. 3Adjust the LTV cap your lender allows.

Frequently asked questions

Are HELOC rates fixed?

Usually variable, tied to prime plus a margin.

Is HELOC interest deductible?

In the US, only when funds are used to buy, build or substantially improve the home.

About this calculator