Free Calculator
See how large a home equity line of credit you can open. Enter your home value, mortgage balance, and the maximum combined loan-to-value your lender allows to get your available credit line and interest-only payment.
Estimate. Most HELOC lenders allow a combined loan-to-value of 80–90%. HELOC rates are variable (Prime + margin); the interest-only payment shown assumes the full line is drawn at the rate entered.
A HELOC is a revolving credit line secured by your home’s equity. Available line = (Home value × max combined LTV) − mortgage balance. Most lenders allow a combined loan-to-value (your first mortgage plus the HELOC) of 80–90%. HELOC rates are variable — typically the Prime Rate plus a margin based on your credit and CLTV — and during the draw period you usually pay interest only on the balance you have actually used, not the whole line.
Prefer a lump sum at a fixed rate? Compare with the cash-out refinance calculator and read HELOC vs refinance, California HELOC rates, or bridge loan vs HELOC. Explore our HELOC program.
Most lenders let your first mortgage plus the HELOC reach a combined loan-to-value of 80–90% of your home’s value. Your available line is that maximum minus your current mortgage balance — which is exactly what this calculator estimates.
During the draw period, most HELOCs require an interest-only payment on the balance you have used: balance × annual rate ÷ 12. After the draw period, the balance amortizes into principal-and-interest payments over the repayment term.
HELOC rates are almost always variable, tied to the Prime Rate plus a margin set by your credit and combined loan-to-value. If Prime moves, your rate and payment move with it. Some lenders offer a fixed-rate lock option on part of the balance.
A HELOC leaves your first mortgage untouched and only charges interest on what you draw — ideal if you have a low first-mortgage rate. A cash-out refinance replaces the whole loan at one fixed rate — often better if you need a large lump sum and today’s rate is near your current one.
Yes — lenders will not approve a new HELOC on a home that is listed for sale, so if you plan to use one to buy before you sell, open it well before you list. See our bridge loan vs HELOC guide for the timing.
Tap your equity without touching your first mortgage. Free quote, no credit pull to start.