LOANS & MORTGAGES CHANNEL
HELOC Calculator
Calculate available Home Equity Line of Credit limits and estimate payments.
Calculator Variables
Calculation Overview
Calculate your available HELOC limit and estimate monthly payments for home equity lines of credit.
Mathematical Model & Formula
HELOC Limit = (Home Value * LTV Cap) - Mortgage Balance
Determines the lending cap based on equity and subtracts current mortgage lien balances.
Variables Defined:
Worked Example Scenario
Scenario: Value = $400k, Mortgage = $200k, LTV = 80%.
- Cap = $400,000 * 0.8 = $320,000
- HELOC = $320,000 - $200,000 = $120,000
Result: $120,000 available HELOC.
Frequently Asked Questions
How do HELOC payments work?
HELOCs typically feature a 10-year interest-only draw period followed by a 20-year principal+interest repayment period.