See how much equity you can borrow at 80% or 85% combined loan-to-value, then the fixed monthly payment and total interest on a home equity loan.
Rates here are editable examples, not today's rates. Use the rate from your own quote or Loan Estimate.
Estimates for planning, not financial, tax or legal advice. Figures use US rules unless the page says otherwise.
What it does
A home equity loan pays you a lump sum and is repaid in equal monthly payments, usually at a fixed rate. It's a second mortgage, so it sits on top of the loan you already have. This calculator finds the most you can borrow under a lender's combined loan-to-value (CLTV) limit, then the payment and interest.
How it's calculated
Most you can borrow = home value × max CLTV − mortgage balance
Payment = L × i ÷ (1 − (1 + i)−n)
L is the amount you borrow, i is the annual rate ÷ 12 and n is the number of monthly payments. Leave the amount blank to use the most you can borrow.
Worked example
A $500,000 home with $250,000 left on the mortgage:
| CLTV limit | Calculation | Most you can borrow |
|---|
| 80% | 500,000 × 0.80 − 250,000 | $150,000 |
| 85% | 500,000 × 0.85 − 250,000 | $175,000 |
Borrowing $150,000 at a fixed 8% for 15 years costs $1,433.48 a month, with $108,026 in total interest. In the first year, $11,805 of your payments goes to interest and the balance falls to $144,603.
Home equity loan or HELOC?
A home equity loan suits one known cost, like a roof or debt consolidation, because the payment never changes on a fixed rate. A HELOC suits costs spread over time, but its rate usually varies. Either way your home secures the debt, so you could lose it if you can't pay.
Limitations
- Each lender sets its own CLTV limit, credit score and debt-to-income rules. 80% and 85% are shown as common reference points, not promises.
- Lenders use an appraised value, which may differ from your estimate.
- Closing costs and fees aren't included. Some lenders add them to the loan.
- You can cancel a home equity loan on your main home within three business days of closing, in writing.
Sources
How we checked this
Before every update, this calculator is run in a real browser with these known answers, and it must match all of them:
- $500,000 home, $250,000 owed: $150,000 at 80% CLTV ✓
- Same: $175,000 at 85% CLTV ✓
- $150,000 at 8% for 15 years: $1,433.48, $108,026.06 interest ✓
- $100,000 at 8% for 10 years: $1,213.28 ✓
- Mortgage above the limit: no equity ✓
Last checked October 26, 2026. Spotted something wrong? The math is done in your browser with the formula shown on this page, so you can check any result by hand.
Questions people ask
How much can I borrow with a home equity loan?
Multiply your home's value by the lender's CLTV limit and subtract what you owe. On a $500,000 home with $250,000 owed, that's $150,000 at 80% or $175,000 at 85%.
What is the payment on a $100,000 home equity loan?
At a fixed 8% for 15 years it's $955.65 a month. Over 10 years it's $1,213.28. Enter your own rate and term above.
Do interest rates on home equity loans differ from mortgage rates?
They're usually higher than first-mortgage rates because the lender is second in line if the home is sold. Compare offers using the APR on each Loan Estimate.
Is there an interest-only home equity loan?
Most home equity loans are fully amortizing. Interest-only payments are more common on HELOCs during the draw period. See the interest-only calculator for how that changes the payment.