Home Equity Calculator

Current Home Value ($)

Mortgage Balance ($)

Mortgage Interest Rate (%)

HELOC Interest Rate (%)

Home Equity Summary

Your Home Equity

$170,000

37.8% equity in your home

Mortgage: $280,000Value: $450,000

Owed

Equity

Current LTV

62.2%

Max HELOC (80% LTV)

$80,000

Max HELOC (90% LTV)

$125,000

HELOC Draw Payment Estimator

HELOC Draw Amount ($)

Up to $80,000 available at 80% LTV

Repayment Term

HELOC Monthly (P+I)

$495.94

Interest-Only Payment

$283.33

Total Interest Paid

$19,513

Total Repayment

$59,513

Combined Monthly Payments

Mortgage

$1,769.79

HELOC

$495.94

Total

$2,265.73

HELOC Draw Amount Comparison

Draw Amount	Monthly (P+I)	Interest Only	Total Interest
$25,000	$309.96	$177.08	$12,196
$50,000	$619.93	$354.17	$24,391
$75,000	$929.89	$531.25	$36,587

Based on 8.5% rate, 10-year repayment term

Understanding Home Equity