Home Equity Loan Calculator

Worked example

Example 1: A $100,000 home equity loan at 8.5% for 15 years is about $985/month (~$77,250 total interest before fees). Example 2: $450,000 home with $280,000 mortgage at 80% LTV → about $80,000 equity available before fees.

When to use this

• Estimating how much equity you can borrow.
• Comparing fixed equity loan payments.
• Stress-testing LTV caps before applying.
• Contrasting with HELOC revolving payments.
• Planning a renovation budget against equity.

Common examples

• $100,000 home equity loan at 8.5% for 15 years → about $985/month (~$77,250 interest before fees).
• $450,000 home, $280,000 mortgage, 80% LTV → roughly $80,000 equity before fees.
• Raising LTV from 80% to 85% increases borrowable equity—and risk.
• Shorter 10-year term raises payment but cuts interest vs 20 years.
• Compare the same amount on HELOC Payment Calculator for revolving interest-only.

Common mistakes

• Confusing HELOC with a closed-end equity loan.
• Ignoring closing costs and fees.
• Using Zillow-style estimates as appraisal truth.
• Borrowing to the LTV max without cash reserve.
• Treating results as a lender commitment.

How it works

Estimates how much equity you can borrow as a fixed home equity loan from home value, mortgage balance, and a maximum LTV, then amortizes the loan amount at your APR and term—including a default $100,000 example. This models a closed-end equity loan—not a revolving HELOC.

Limitations

Results are estimates for educational purposes and are not financial or tax advice. Actual costs, rates, and rules vary.

Privacy and file handling

Your data stays on your device and is not uploaded.

Formula or method

Available equity ≈ (home value × max LTV) − mortgage balance. Monthly payment uses standard amortization on the equity loan amount.