Estimate: home value × max CLTV (e.g., 80%) minus current mortgage balance = your approximate available lump sum. A fixed payment is then set by the amount, rate, and term.
The formula
Multiply home value by the lender’s max CLTV (often 80–85%), subtract your existing mortgage balance, and you have your approximate available loan. The monthly payment depends on the rate and term you choose.
Example
On an $800,000 home with a $350,000 mortgage at 80% CLTV: $800,000 × 0.80 = $640,000, minus $350,000 = about $290,000 potential lump sum, subject to qualifying. We’ll run your real numbers and payment.
| Input | Effect |
|---|---|
| Higher home value | Larger loan |
| Lower existing balance | Larger loan |
| Longer term | Lower payment, more interest |
| Stronger credit | Better rate |
Frequently asked questions
Can you estimate my payment?
Yes — give us the amount, and we’ll show payments across terms and current rates.
Does my first mortgage reduce the amount?
Yes — it’s subtracted from the CLTV cap, since the home equity loan sits behind it.
Is the estimate guaranteed?
No — illustrative until appraisal and underwriting confirm value and terms.
Save Financial is a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766). Figures are illustrative for 2026 and not an offer of credit.