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Jul 16
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How much can you borrow against your home?

Estimate home equity loan amount and monthly payments by entering home value, mortgage balance, desired loan, interest rate, and loan term.
Katy Song, CFP®

Your home is more than just a place to live; it's a potential source of funds for major life events. Whether you're renovating, consolidating debt, or financing a big project, a home equity loan could be the answer. Use our calculator to estimate your potential loan amount and monthly payments.

The yearly percentage you'll pay on the borrowed amount. Most home loan interest rates are typically 1-2% higher than traditional 30-year mortgages.
This is the number of years you'll take to repay the loan. Most home loans are between 5 - 10 years.
Loan-to-value (LTV) ratio
This is the percentage of your home's value that you're borrowing. It's calculated by dividing the total loan amount (your desired new loan amount plus your existing mortgage balance) by your home's current value.
80%
Estimated monthly payment amount
$40,000
MAY QUALIFY

You may be eligible for a home equity loan!

Because you have an LTV of less than 80%, you could be approved for a home equity loan depending on your financial track record.

MAY NOT QUALIFY

You should probably wait.

Lenders typically won't let you borrow more than 80% of your home equity.

This calculator assumes that lenders will not underwrite a home equity loan (HELO) if the post loan issuance loan to value (LTV) ratio will be higher than 80%. It uses a monthly payment calculation using the inputs provided and calculates the LTV by summing up the mortgage and HELO amount and dividing by the inputted home value.
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