Home Equity Loan Calculator
Calculate your borrowable equity and estimate the fixed monthly payments of a home equity second mortgage.
Fixed Rate P&I (Amortized)
Equity & Loan Parameters
Closing Costs Configuration
A Home Equity Loan is a second mortgage with a fixed rate and term. If the requested amount + first mortgage balance exceeds the lender LTV limit (usually 80-85%), approval may be restricted.
How Home Equity Loan Calculator Works
Use our calculator to project borrowing potential and simulate second mortgage payments using the following key steps.
Enter Home Value
The current appraised market value of your property.
Set First Mortgage Balance
The outstanding balance remaining on your primary home loan.
Calculate Available Equity
Determine the borrowable cash based on standard combined loan-to-value limits.
Equity Loan Types
Borrowing against home equity typically comes in two structural formats.
CLTV Ratio
Combined Loan-to-Value: the total of all mortgage debts divided by the home value, typically capped at 80% to 85%.
Fixed Rate Second Mortgage
A lump-sum home equity loan that features stable interest rates and uniform monthly payments.
Monthly Payment Calculator
Model and compare monthly principal and interest payments under various loan term options.
Closing Costs Included
Factor in standard second mortgage closing costs, typically ranging from 2% to 5% of the total loan balance.
Frequently Asked Questions About Home Equity
Frequently Asked Questions
Is this home equity calculator free?
Yes. Calculate unlimited equity loan scenarios with no registration.
What is CLTV ratio?
Combined Loan-to-Value: total mortgage debt divided by home value.
Can I calculate closing costs?
Yes. Include closing costs and fees in total equity loan cost.
Do you store home value data here?
No. All calculations run locally with complete privacy.