Home Equity Loan Calculator
Enter your home value, mortgage balance, and the loan you want. See your available equity under the 80% lending cap and the payment on a fixed home equity loan.
| Maximum you can likely borrow (80% CLTV) | — |
| Your equity today | — |
| Combined loan-to-value after borrowing | — |
| Total interest | — |
How much equity can you actually borrow?
Max loan ≈ Home value × 80% − Mortgage balance
Lenders cap combined loan-to-value (your mortgage + the new loan) around 80–85%. A $420,000 home with $250,000 owed has $170,000 of equity, but only about $86,000 is borrowable at the 80% cap. Borrowing $60,000 puts CLTV at 73.8% — approvable at most lenders with adequate income and credit.
Fixed and simple — the appeal vs the HELOC
A home equity loan is a lump sum at a fixed rate with level payments from day one — no draw-period games, no floating rate. The cost of that certainty: fixed rates run above HELOC intro rates, and you pay interest on the full amount immediately even if the project spends it gradually. One-time known costs (a roof, consolidation of a fixed debt amount) fit the loan; open-ended projects fit the HELOC.
The unchanged fine print: your house secures it. Consolidating credit cards onto the house turns missable unsecured debt into foreclosure-grade debt — only worth it with the spending problem genuinely fixed.
Frequently asked questions
How much home equity can I borrow?
Typically up to 80–85% of home value minus your mortgage balance. $420,000 home, $250,000 owed → about $86,000 borrowable at the 80% cap.
What is CLTV?
Combined loan-to-value: (mortgage + home equity borrowing) ÷ home value. Lenders usually cap it at 80–85%; lower CLTV gets better rates.
Home equity loan or HELOC?
Loan: fixed lump sum, fixed rate — for known one-time costs. HELOC: flexible draw, variable rate, interest-only start — for phased or uncertain costs. The loan is the predictable one.
Is it smart to consolidate cards with home equity?
The rate math is compelling (9% vs 24%) but it secures previously unsecured debt with your house and takes 5–15 years. Safe only when paired with genuinely changed spending — otherwise the cards refill and the house carries both.
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Last updated: 2026-07-08