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HELOC Calculator Guide
A home equity line of credit lets you borrow against the equity in your home. This calculator estimates how large a credit line you may qualify for, based on your home value, mortgage balance, and your lender's loan-to-value limit.
Available HELOC = (home value × max CLTV) − mortgage balance. Lenders cap the combined loan-to-value, usually around 85%, so you can't borrow against all of your equity.
How Much Can I Borrow With a HELOC?
Multiply your home value by the lender's maximum combined loan-to-value ratio, then subtract what you still owe on your mortgage. What's left is roughly the credit line you can access. Your income, credit score, and DTI also affect final approval.
Example: $400,000 Home, $220,000 Mortgage
| Max CLTV | Borrowing Base | Available HELOC |
|---|---|---|
| 80% | $320,000 | $100,000 |
| 85% | $340,000 | $120,000 |
| 90% | $360,000 | $140,000 |
How a HELOC Works
- Draw period: typically 10 years when you can borrow and usually pay interest only.
- Repayment period: often 20 years of principal-plus-interest payments after the draw period ends.
- Variable rate: most HELOCs have adjustable rates, so payments can rise.
- Your home is collateral: defaulting risks foreclosure, so borrow carefully.
Worked Example
A $400,000 home with a $220,000 mortgage at 85% CLTV: borrowing base = $340,000; available HELOC = 340,000 − 220,000 = $120,000. Total equity is $180,000, and current LTV is 55%.
Check whether you'd qualify with the DTI Calculator, and compare paying down your mortgage with the Mortgage Payoff Calculator.
These results are estimates for planning only and are not financial advice. Actual rates, terms, fees, and eligibility vary by lender.
Frequently Asked Questions
How much can I borrow with a HELOC?
Multiply your home value by the lender's max loan-to-value (about 85%) and subtract your mortgage balance — for a $400,000 home with a $220,000 mortgage, roughly $120,000.
What is the loan-to-value limit for a HELOC?
Most lenders allow a combined loan-to-value of 80% to 90%, meaning your mortgage plus HELOC can't exceed that share of your home's value.
How is a HELOC payment calculated?
During the draw period many HELOCs are interest-only, so the payment is the balance times the monthly rate; afterward you repay principal and interest.
Is a HELOC based on equity?
Yes — it's based on your available equity, which is your home's value minus what you owe, up to the lender's loan-to-value limit.
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