Free tool
HELOC calculator
Enter a home value, mortgage balance and combined LTV cap to estimate borrowing headroom, the interest-only payment while drawing and the payment while repaying. Everything stays in your browser — nothing you type is sent or stored.
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How the estimate is worked out
Estimated headroom is the home value times the entered combined loan-to-value cap, minus the mortgage balance, with a minimum of zero. This arithmetic does not establish an approved line. During the draw period the payment is interest only: the amount drawn times the rate, divided by 12. During repayment the amount is paid off over the repayment term with the standard amortization formula at the same rate.
Read the CFPB explanation of HELOCs and the FTC guide to borrowing against home equity.
Using it with homeowners
- Start with the real value and mortgage balance, and ask what combined LTV their lender allows.
- Show the draw payment and the larger repayment payment side by side, so nobody is surprised when repayment starts.
- Try a higher rate to show how a variable rate changes the payment.
- Remind them the home secures the line: a HELOC is a loan against the property.
For a fixed-rate lump sum, use the home equity loan calculator. See the equity first with the home equity calculator, compare the refinance break-even calculator, or run a full mortgage amortization schedule. More in the free tools for real estate agents.
Common questions
How much can I borrow with a HELOC?
This calculator shows headroom under the combined loan-to-value cap you enter: home value × cap − mortgage balance, with a minimum of zero. The default 85% is an illustration, not a lender policy or approval. Your income, credit history and property value also affect what a lender may offer.
How is a HELOC payment worked out?
Most HELOCs have a draw period, commonly 10 years, when only interest is required, followed by a repayment period, commonly 10 to 20 years, when principal and interest are paid. This calculator shows the interest-only payment on the amount drawn, then the fully amortizing payment over the repayment period. HELOC rates are usually variable, so real payments move with the rate.
What is the difference between a HELOC and a home equity loan?
A home equity loan pays a lump sum at a fixed rate with fixed payments from day one. A HELOC is a revolving line you draw on as needed, usually at a variable rate. To estimate a home equity loan, set the draw period to 0 years and use the loan rate: the repayment payment is then the fixed monthly payment.
Is this a loan offer or a quote?
No. It is an estimate from the figures you enter, not a loan offer, a Loan Estimate or advice. Fees, rate caps, margins and appraisals will change real numbers. Ask a licensed lender.
Does the calculator save what I enter?
No. Amounts, names and contact details stay in your browser and are not sent to Kadapt, stored, or used in analytics. The only thing counted is that someone pressed the print or image button.