Home Equity Line of Credit (HELOC) Calculator
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The amount of line of credit you can borrow
Use the calculator below to estimate the maximum home equity line of credit amount you may be able to borrow, based on the value of your home, your remaining mortgage balance, and the loan-to-value (LTV) ratio acceptable by the lender.
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How to Use This Calculator
Follow these simple steps to get your HELOC estimate in seconds:
1
Enter your loan amount — the total HELOC credit limit you want to calculate.
2
Enter your interest rate, draw period in years, and repayment period in years.
3
Optionally check the box to include closing costs and annual fees for a complete cost picture.
4
Use the Borrowing Limit calculator to estimate your maximum HELOC amount based on your home value, mortgage balance, and lender LTV ratio.
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Click Calculate to see your monthly payments, total interest, and full amortization schedule.
HELOC vs. Alternatives
Not sure if a HELOC is right for you? Compare your options side by side to find the best fit for your financial goals.
| Feature | HELOC | Home Equity Loan | Cash-Out Refinance |
|---|---|---|---|
| Payout | As needed (Revolving) | Lump sum | New larger mortgage |
| Interest Rate | Usually Variable | Usually Fixed | Usually Fixed |
| Flexibility | High | Low | Low |
| Best For | Ongoing / phased projects | One-time large expense | Lowering overall rate |
Frequently Asked Questions
During the draw period (typically 5 to 10 years) you can borrow from your HELOC and usually only make interest-only payments. During the repayment period (typically 10 to 20 years) you can no longer borrow and must repay both principal and interest — which significantly increases your monthly payment.
Most lenders allow you to borrow up to 80% to 85% of your home's value minus your outstanding mortgage balance. For example if your home is worth $500,000 and you owe $250,000 your maximum HELOC limit at 80% LTV would be $150,000. Use the Borrowing Limit calculator above to get your personalized estimate instantly.
HELOC interest is only tax-deductible if the funds are used to buy, build, or substantially improve the home that secures the loan. If used for other purposes such as paying off credit cards or buying a car the interest is generally not deductible. Always consult a qualified tax professional before making decisions based on tax treatment.
Most lenders require a credit score of 660 to 700 to qualify for a HELOC. Some credit unions may approve scores as low as 620 but expect higher interest rates and lower borrowing limits. Improving your credit score before applying can significantly expand your options and reduce your rate.
Want to Learn Everything About HELOCs?
Read our complete guide — what a HELOC is, how it works, pros and cons, and smart tips before you apply.