HELOC Calculator

Enter your home value, mortgage balance and CLTV limit to see how much you could borrow with a HELOC and what it would cost each month.

Estimate the maximum HELOC and the monthly payment.

Home value ($)

Mortgage balance owed ($)

Maximum combined loan-to-value, CLTV (%)

HELOC interest rate (%)

Repayment period after the draw period (years)

How much can you borrow with a HELOC?

A home equity line of credit (HELOC) lets you borrow against the equity in your home. Lenders usually cap the total you can owe on the home at a percentage of its value, called the combined loan-to-value (CLTV). The formula is: maximum HELOC = home value × CLTV − current mortgage balance. For a $450,000 home with a $250,000 mortgage and an 85% CLTV limit, that is $450,000 × 0.85 − $250,000 = $132,500. Many lenders use limits around 80% to 90%, but each lender sets its own, and your credit and income also matter.

Examples

Home value	Mortgage balance	Equity	Max HELOC at 80% CLTV	Max HELOC at 85% CLTV
$300,000	$180,000	$120,000	$60,000	$75,000
$400,000	$250,000	$150,000	$70,000	$90,000
$500,000	$300,000	$200,000	$100,000	$125,000
$600,000	$350,000	$250,000	$130,000	$160,000

How a HELOC payment works

Draw period: you can borrow as needed, and many HELOCs only require interest payments. At 8.5%, a fully drawn $132,500 line costs about $939 a month in interest only.
Repayment period: you repay principal and interest. Over 20 years at 8.5% the same balance would cost about $1,150 a month.
Variable rates: most HELOC rates change with a benchmark, so payments can rise or fall.
Your home is the collateral: if you cannot repay, the lender can foreclose.

This is an estimate and not a loan offer or financial advice; your lender’s terms decide the real amount. See also the mortgage calculator and the refinance break-even calculator.

How to use the HELOC calculator

Enter your home value and your current mortgage balance.
Enter the maximum combined loan-to-value your lender allows and the HELOC rate.
Read the estimated maximum HELOC, your equity and the monthly payment during the draw and repayment periods.

Frequently asked questions

How is the maximum HELOC calculated?

Home value × the lender’s maximum CLTV, minus what you still owe on your mortgage. A $450,000 home with a $250,000 mortgage and an 85% limit gives about $132,500.

What is CLTV?

Combined loan-to-value: all loans secured by the home (the mortgage plus the HELOC) divided by the home’s value. Lenders set a maximum, often between 80% and 90%.

What is a typical HELOC payment?

During the draw period many HELOCs ask only for interest. A $132,500 balance at 8.5% is about $939 a month interest-only, and about $1,150 a month if repaid over 20 years.

Is a HELOC rate fixed or variable?

Most are variable, so your payment can change. Some lenders let you fix part of the balance.

How much equity do I need for a HELOC?

Lenders typically want you to keep some equity, which is why the CLTV limit is below 100%. Home equity is the home’s value minus your mortgage balance.

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