Home Equity Loan Calculator: Payment & Max Amount

A home equity loan lets you borrow up to your lender's combined loan-to-value limit (usually 80%–85% of the home's value) minus what you still owe, then repay it in fixed monthly payments. Enter your home value, mortgage balance, the amount you want, rate and term: the calculator shows the most you can borrow, your payment, total interest and the equity left. Want a line of credit instead? HELOC calculator · compare a cash-out refinance.

Your home equity loan

Monthly payment

$492.37

fixed for 180 months on $50,000

Most you can borrow

$90,000

at 85% CLTV

Total interest

$38,627

total repaid $88,627

CLTV after the loan

75%

equity left $100,000 · cash after costs $49,000

Estimates for planning, not a loan offer or financial advice. Every rate and cost here is a number you enter or an example you can change; confirm figures with your lender.

How the calculator works

Max loan = value × max CLTV − balance owed · Payment = L × r ÷ (1 − (1 + r)⁻ⁿ) · CLTV = (balance + L) ÷ value

The CFPB describes a home equity loan as a loan for a fixed amount, secured by your home, repaid in equal monthly payments over a fixed term. Lenders limit the loan so that your first mortgage plus the new loan stays under a combined loan-to-value ratio, commonly 80% to 85% of the appraised value. L is the amount you borrow, r is the annual rate ÷ 12 and n is the number of months. If you ask for more than the CLTV limit allows, the calculator caps the loan and tells you.

Worked example

A $400,000 home with $250,000 owed has $150,000 of equity (37.5%). At an 85% CLTV cap the lender allows up to $340,000 of total debt, so the most you can borrow is $90,000. Borrowing $50,000 at 8.5% for 15 years costs $492.37 a month and $38,627 in interest. Your CLTV rises from 62.5% to 75%, and with 2% closing costs you receive about $49,000.

Home equity loans by scenario

Five common borrowing scenarios run through the same formulas. Rates are examples, not quotes; the last row uses an 80% CLTV cap.

Maximum loan, monthly payment and total interest by scenario
Scenario	Max at CLTV cap	Payment	Total interest	CLTV after
$300k home, $150k owed, $40k at 8.25%, 10 yr	$105,000	$490.61	$18,873	63.3%
$400k home, $250k owed, $50k at 8.5%, 15 yr	$90,000	$492.37	$38,627	75%
$500k home, $300k owed, $75k at 8.5%, 20 yr	$125,000	$650.87	$81,208	75%
$600k home, $350k owed, $100k at 8%, 15 yr	$160,000	$955.65	$72,017	75%
$750k home, $400k owed, $150k at 7.75%, 20 yr	$200,000	$1,231.42	$145,541	73.3%

Home equity loan vs HELOC vs cash-out refinance

Home equity loan: lump sum, fixed rate, fixed payment, separate from your first mortgage. Best when you need a known amount once, such as a renovation with a contractor's quote.
HELOC: a revolving line with a variable rate (CFPB). You pay interest only on what you draw. Size one with the HELOC CLTV calculator.
Cash-out refinance: replaces your whole first mortgage. It can make sense when today's rate is no higher than your current one; if your first mortgage rate is low, a second loan usually keeps it. Run it in the cash-out refinance calculator.

Common mistakes

Using the Zestimate as the value. The lender's appraisal sets the value. Use a conservative number so the maximum doesn't shrink at underwriting.
Ignoring the term. A 20-year term cuts the payment but adds years of interest. Compare total interest, not just the payment.
Forgetting your debt-to-income ratio. The new payment counts toward DTI; check it with the DTI calculator.
Borrowing to the limit. Home values can fall as well as rise. Leaving 15%–20% equity keeps options open if you need to sell.

This is an estimate for planning, not a loan offer. Your Loan Estimate shows the actual rate, fees and payment.

Frequently asked questions

How much can I borrow with a home equity loan?

Lenders cap the combined loan-to-value (CLTV): your mortgage plus the new loan divided by the home's value. At an 85% cap, a $400,000 home with $250,000 owed allows up to $90,000 ($340,000 − $250,000). Many lenders use 80% to 85%; some go to 90% for strong credit.

How is a home equity loan payment calculated?

It is a fixed-rate installment loan, so the payment uses the standard amortization formula: loan × r ÷ (1 − (1 + r)^−n), with r = annual rate ÷ 12 and n = months. $50,000 at 8.5% for 15 years is $492.37 a month.

What is the monthly payment on a $50,000 home equity loan?

At 8.5%: $619.93 over 10 years, $492.37 over 15 years and $433.91 over 20 years. The longer term lowers the payment but raises total interest from $24,391 to $54,139.

Home equity loan or HELOC?

A home equity loan pays a lump sum at a fixed rate with a fixed payment. A HELOC is a revolving line with a variable rate that you draw as needed, often paying interest only during the draw period. The CFPB describes both; pick the loan when you know the amount up front and want a payment that never changes.

Are there closing costs on a home equity loan?

Often 2% to 5% of the loan for appraisal, title, recording and origination, though some lenders waive them. Enter a percentage above to see the cash you actually receive.

Is home equity loan interest tax deductible?

Only when the money is used to buy, build or substantially improve the home that secures the loan, within the overall mortgage debt limits, and only if you itemize. Money used for other purposes is not deductible. Check with a tax professional.

What happens if home values fall?

The loan stays the same, but your equity shrinks and your CLTV rises. Borrowing to the lender's maximum leaves little cushion if you need to sell; the calculator shows the equity left after the loan.

Does the calculator check my credit or rate?

No. It uses the rate you enter. Your actual rate depends on credit score, CLTV, debt-to-income and the lender; compare at least three Loan Estimates.

Home Equity Loan Calculator

Your home and loan