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Home Equity Planning Tool

Professional HELOC Calculator

Estimate your potential home equity credit line, interest-only payment, repayment payment and total interest using your property and loan information.

Instant results
Information is not stored
Draw and repayment estimates

Enter your HELOC details

Change the values to compare borrowing estimates.

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Lender limits commonly range from 80% to 90%.
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What is a HELOC calculator?

A HELOC calculator estimates how much money you may be able to access through a home equity line of credit. It uses your property value, current mortgage balance and maximum combined loan-to-value ratio to estimate your available credit.

The calculator also estimates your interest-only payment during the draw period and your principal-and- interest payment during the repayment period.

A HELOC is different from a traditional home equity loan. It normally works as a revolving credit line, meaning you can borrow from the available limit when needed and pay interest on your outstanding balance.

How to use the HELOC calculator

1

Enter your property details

Add the estimated current value of your home and your remaining mortgage balance.

2

Choose your HELOC terms

Enter the maximum combined LTV, amount you plan to borrow, interest rate and loan periods.

3

Review your results

Compare the available credit, estimated monthly payments and total borrowing cost.

How the HELOC calculation works

Available HELOC amount

Your estimated available HELOC is calculated by multiplying your home value by the selected maximum combined LTV and then subtracting your existing mortgage balance.

Available HELOC = (Home value × Maximum CLTV) − Current mortgage balance

For example, if your property is worth $450,000, the lender allows an 85% combined LTV and your remaining mortgage balance is $250,000, the estimated available HELOC is $132,500.

Interest-only payment

Some HELOCs allow interest-only payments during the draw period. The calculator estimates this payment using the amount borrowed and the monthly interest rate.

Monthly interest-only payment = Amount borrowed × (Annual interest rate ÷ 12)

Repayment-period payment

When the draw period ends, you may need to repay both principal and interest. The calculator uses a standard amortization formula to estimate this monthly payment.

Understanding your calculator results

Home equity

Home equity is the difference between your property’s estimated value and your outstanding mortgage balance.

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Combined LTV

Combined LTV compares your current mortgage and proposed HELOC balance with your home’s value.

Draw period

This is the period when you may borrow from the credit line, subject to your lender’s conditions.

Repayment period

This is the period when the outstanding balance is normally repaid through principal-and-interest payments.

HELOC draw period vs. repayment period

Feature Draw period Repayment period
Access to credit Borrow up to the available credit limit Additional borrowing generally ends
Typical payment Interest-only or minimum payment Principal-and-interest payment
Outstanding balance May increase with additional borrowing Normally decreases with regular payments
Main payment risk Payment may increase if rates rise Payment may rise when principal repayment begins

Important factors to consider

Variable interest rates

Many HELOCs have variable interest rates. This means your rate, monthly payment and total borrowing cost may increase or decrease over time.

Closing costs and lender fees

A lender may charge appraisal fees, application fees, annual fees, inactivity fees or early closure charges. These costs are not included in the calculator results.

Your home secures the credit line

A HELOC uses your home as collateral. Failure to make the required payments may have serious consequences, including possible foreclosure.

Payment changes after the draw period

Your payment may increase when the draw period ends because the repayment-period payment typically includes both principal and interest.

Frequently asked questions

How much can I borrow with a HELOC?

The amount depends on your home value, existing mortgage, lender’s maximum combined LTV, income, credit history and qualification requirements. The result shown here is only an estimate.

How is a HELOC monthly payment calculated?

During the draw period, the payment may be based only on accrued interest. During the repayment period, the payment usually includes principal and interest over the remaining term.

Does a HELOC have a fixed interest rate?

Many HELOCs have variable rates connected to a benchmark rate plus a lender margin. Some lenders may allow part of the balance to be converted to a fixed-rate option.

What is a good combined LTV for a HELOC?

Requirements differ between lenders, but many limit the combined mortgage and HELOC balance to approximately 80% to 90% of the property’s appraised value.

Can my HELOC monthly payment increase?

Yes. Your payment may increase if the variable rate rises, you borrow additional money or the HELOC changes from its draw period to its principal repayment period.

Does this calculator include lender fees?

No. It does not include appraisal costs, application fees, closing costs, annual fees or other lender-specific charges.

Is the HELOC calculator result guaranteed?

No. The result is an educational estimate. Only a lender can determine your actual credit limit, interest rate, payment and eligibility.