Home Equity Loan Calculator
Calculate how much you can borrow with a home equity loan and estimate payments.
Loan Approved
Your requested amount is within the borrowing limit
Home equity visualization
Available equity
$200,000
Maximum borrowable
$100,000
Monthly payment
$492
Total interest
$38,627
Total payment
$88,627
Combined LTV
70.0%
LTV ratio
Balance over time
Payment schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $492 | $138 | $354 | $49,862 |
| 2 | $492 | $139 | $353 | $49,723 |
| 3 | $492 | $140 | $352 | $49,582 |
| 4 | $492 | $141 | $351 | $49,441 |
| 5 | $492 | $142 | $350 | $49,299 |
| 6 | $492 | $143 | $349 | $49,156 |
| 7 | $492 | $144 | $348 | $49,012 |
| 8 | $492 | $145 | $347 | $48,867 |
| 9 | $492 | $146 | $346 | $48,720 |
| 10 | $492 | $147 | $345 | $48,573 |
| 11 | $492 | $148 | $344 | $48,425 |
| 12 | $492 | $149 | $343 | $48,275 |
| 24 | $492 | $163 | $330 | $46,398 |
| 36 | $492 | $177 | $315 | $44,355 |
| 48 | $492 | $193 | $300 | $42,132 |
| 60 | $492 | $210 | $283 | $39,712 |
| 72 | $492 | $228 | $264 | $37,078 |
| 84 | $492 | $248 | $244 | $34,211 |
| 96 | $492 | $270 | $222 | $31,091 |
| 108 | $492 | $294 | $198 | $27,695 |
| 120 | $492 | $320 | $172 | $23,999 |
What is a home equity loan?
A home equity loan is a second mortgage that lets you borrow against your home's equity. You receive a lump sum and repay with fixed monthly payments over a set term.
Home equity loan vs HELOC
Home equity loans have fixed rates and payments. HELOCs have variable rates and work like a credit card. Choose based on whether you need a lump sum or ongoing access.
Common uses
Home improvements, debt consolidation, major expenses, education costs. Interest may be tax-deductible if used for home improvements (consult a tax advisor).