Calculate payments for a home equity loan or HELOC. See how much you can borrow based on your equity, and estimate monthly payments at various Financing Rates and terms.
Estimated current market value of your home
Remaining balance on your primary mortgage
Annual Financing Rate for the home equity loan
Length of time to repay the home equity loan
Most lenders allow borrowing up to 80% to 90% of the combined loan-to-value (CLTV) ratio. The maximum loan is the home's current value multiplied by the allowable LTV percentage, minus any existing mortgage balance. Monthly payments for the lump-sum home equity loan use the standard amortization formula.
Estimate your monthly mortgage payment and Total Finance Rate cost.
Decide if refinancing your mortgage will save you money.
Determine whether renting or buying is the better financial choice for you.
Find the maximum home price within your budget.
Get an estimate of your total mortgage closing costs.
Estimate PMI costs and find out when you can drop it.
