HELOC Calculator

Estimate how much you could borrow with a Home Equity Line of Credit (HELOC) and your interest-only monthly payment.

Current Home Value

Remaining Mortgage Balance

Max Combined Loan-to-Value Allowed

Amount You Plan to Draw

HELOC Interest Rate

What is a HELOC?

A Home Equity Line of Credit (HELOC) lets homeowners borrow against the equity in their home, up to a lender-set percentage of the home’s value minus any existing mortgage balance.

The Formula

Available Credit = (Home Value × Max Combined Loan-to-Value %) – Remaining Mortgage Balance. During the draw period, many HELOCs charge interest-only payments: Monthly Payment = (Amount Drawn × Interest Rate) ÷ 12.

Note: This is an estimate for general planning purposes only; actual HELOC terms, rates, and limits depend on the lender and your creditworthiness. Not lending advice.

Last reviewed August 2026