About this tool
Home Equity / HELOC Calculator is a free, in-browser tool that computes your current home equity, your loan-to-value ratio, and how much a lender would let you borrow at a chosen maximum combined LTV — plus the monthly repayment on the amount you draw.
Equity is the home value minus the mortgage balance; the borrowable amount is value × max LTV − balance, floored at zero. The repayment estimate amortizes the drawn amount over your chosen rate and term with the standard formula, modeling a fixed-rate home equity loan or a HELOC repaid on a fixed schedule.
Use it to size a renovation budget or debt consolidation: adjust the LTV cap to your lender's limit (80% is typical) and see equity, headroom and payment update live. Nothing is uploaded — all math runs in your browser.
Frequently asked questions
How is the borrowable amount calculated?
Lenders cap total borrowing at a percentage of the home value (max combined LTV). The tool computes value × max LTV ÷ 100 − current balance; if your mortgage already exceeds that cap, the borrowable amount is zero.
What if I leave the amount-to-borrow field empty?
The repayment estimate then uses the full borrowable amount. Enter a smaller figure to see the payment for drawing only part of your available equity.
Does this model a HELOC's variable draw period?
It models fixed amortizing repayment of the drawn amount — like a home equity loan or a HELOC after conversion to repayment. Interest-only draw-period payments would simply be the drawn amount × rate ÷ 12 ÷ 100.
Can equity be negative?
Yes. If your mortgage balance exceeds the home value, the equity tile shows a negative number (being 'underwater') and the borrowable amount is zero. All figures are computed locally in your browser.
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