Home Equity Calculator

Formatting only. This does not change the calculation.
Appraised or estimated market value of the home.
Everything already secured on the property - the first mortgage plus any existing second.
The combined loan-to-value ceiling the lender will lend to. 80-90% is typical.
Home equity
200,000.00
HELOC and Home Equity Calculator
Loan-to-value
55.5556 %
Combined LTV including the drawn line
55.5556 %
Maximum credit line
132,500.00
Credit still available
132,500.00
Monthly payment during the draw period
0.00
Monthly payment during the repayment period
0.00
Payment increase at the end of the draw period
0.00
Interest paid during the draw period
0.00
Interest paid during the repayment period
0.00
Total interest over the life of the line
0.00
Total of all payments
0.00
Total months to repay
360
Worked out from Home-Equity Arithmetic Calculator and 3 other sources.
The rate is held constant. A real HELOC rate moves with its index and margin.
An estimate only. A real HELOC carries a variable rate (index plus margin, subject to caps and a floor), lender minimum payments, and fees that are not modelled here. Confirm every figure against your lender's disclosures.

How this is worked out

6 steps
  1. Home equity = 450000 - 250000 = 200000
  2. Loan-to-value = 100 x 250000 / 450000 = 55.5556%
  3. Credit line = 85% x 450000 - 250000 = 132500
  4. Draw-period payment = 0 x 8.5%/12 = 0
  5. Repayment-period payment = P i / (1 - (1+i)^-n) on 0 over 240 months = 0
  6. Total interest = 0 in the draw period + 0 in repayment = 0

Results are general information, not financial, tax, legal, medical or engineering advice.