Home Equity Line of Credit
HELOC Calculator
See how much equity you can tap into with a Home Equity Line of Credit. Calculate payments and compare options.
Available to Borrow
$120,000
Excellent Equity (42%)
MortgageAvailableProtected
Total Equity
$230,000
Current LTV
58.2%
Your Property
$
$
HELOC Terms
Most lenders cap at 80%, some go to 90%
5%Variable rate, currently ~Prime + 1%15%
$
After draw period ends, typically 10 years
Common HELOC Uses
Payment Summary
Draw Amount
$50,000
Interest-Only Payment
$354/mo
During 10-year draw period
Full P&I Payment
$434/mo
During 20-year repayment
Total Interest Cost
$54,139
LTV After HELOC67.3%
Remaining Equity$180,000
HELOC vs Cash-Out Refi
HELOC: Keep your existing low-rate mortgage
HELOC: Only pay interest on what you use
HELOC: Variable rate can increase
Considering Cash-Out Instead?
Compare a cash-out refinance to see which option works better for your situation.