Home planning

Home Equity Loan Calculator

Calculate how much home equity you can borrow and estimate monthly payments. Use this Real estate tool to enter your numbers, review the result, and understand the key assumptions before making the next decision.

What you get
A focused calculator, clear explanation, common questions, and useful next tools.
Quick intro
Calculator
Result
Explanation
Common questions
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How this calculator works
The result depends on the numbers you enter and the assumptions shown below.

A home equity loan lets you borrow against your home's equity in a lump sum at a fixed interest rate. Lenders typically allow you to borrow up to 80–85% of your home's value minus your outstanding mortgage balance. This calculator shows your available equity, maximum loan amount, and fixed monthly payments.

Review the inputs carefully and treat the output as an estimate. For decisions involving money, taxes, health, law, or security, compare the result with trusted professional guidance when needed.

Frequently asked questions

What is the difference between a home equity loan and HELOC?

A home equity loan provides a lump sum at a fixed rate, with fixed monthly payments. A HELOC (home equity line of credit) is a revolving credit line with a variable rate. Home equity loans are better for one-time large expenses; HELOCs offer flexibility for ongoing needs.

What can I use a home equity loan for?

Common uses include home renovations, debt consolidation, major purchases, college tuition, and medical expenses. The interest may be tax-deductible if used for home improvements — consult a tax advisor.