Find how much equity you have, the largest line of credit you could open
at your lender’s CLTV cap, and what the payment would look like.
HELOC & home equity calculator
Estimate the equity in your home, the maximum you can borrow at your
lender's combined-loan-to-value (CLTV) cap, and the monthly payment
under both interest-only and fully-amortizing terms.
Current equity
$250,000
Current LTV: 50.0%
Max HELOC available
$175,000
At your CLTV cap. Drawing more is not allowed.
CLTV after this draw
60.0%
Combined first + HELOC vs home value.
Interest-only payment
$354.17
During the typical 10-year draw period.
Fully-amortizing payment
$619.93
During the repayment period.
HELOC rates are usually variable and tied to the Prime Rate. Stress-test by
adding 2–3 percentage points to the current rate before signing.
Frequently asked questions
How much can I borrow against my home?+
Most lenders cap the combined loan-to-value (CLTV) at 80–90%. Multiply your home value by the cap, then subtract your existing mortgage balance — the remainder is the most you can borrow on a HELOC or home equity loan. Some credit unions go to 100% CLTV but at significantly higher rates.
HELOC vs home equity loan — which is better?+
A HELOC is a revolving credit line, usually with a variable rate, with a 10-year draw period followed by a 10–20 year repayment period. A home equity loan is a fixed-rate lump sum repaid like a second mortgage. HELOC is flexible (good for projects with uncertain costs); home equity loan is predictable (good for one-time large expenses).
Can I lose my home if I default on a HELOC?+
Yes. A HELOC is secured by your home — the lender can foreclose. That makes it inappropriate for discretionary spending or covering a temporary cash crunch. Use it for value-adding home improvements or to refinance higher-rate unsecured debt with a long payoff plan.
How do interest-only HELOC payments affect total cost?+
During the typical 10-year draw period, you can pay interest only, which keeps monthly payments low. But none of that interest reduces principal — when the repayment period starts, payments often jump 2–3x as the full balance amortizes over 10–20 years. Plan for the “payment shock” in advance.