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Financial calculator

Home Equity Loan Calculator

Estimate payment, combined LTV and available borrowing room for a fixed-rate home equity loan.

Combined LTV compares the existing mortgage plus the new loan with estimated home value. Lenders may use their own appraisal and limits.

Method

The payment uses fixed-rate amortization. Combined LTV is existing mortgage balance plus the new loan amount divided by home value.

Example

With a $500,000 home value, $300,000 existing mortgage and $50,000 new home equity loan, combined LTV is 70%. At 9% APR over 10 years, the new loan payment is about $633 per month.

Common mistakes

Do not use an old purchase price as current home value if the lender will require a new valuation. Include closing costs separately if they are financed.

Limitations

This is not a lending decision. It excludes closing costs, lien priority, appraisal changes, variable rates, tax effects, credit criteria and local home equity rules.

References

Last reviewed: 2026-05-16

Before relying on this result

Use this calculator together with the formula, assumptions, limitations and examples on the page. If the topic involves health, tax, lending, investment, legal, safety or current-rate decisions, treat the number as an estimate and check the relevant primary source or professional guidance.

Calculator metadata last reviewed: 2026-05-14.