HELOC Calculator: How Much Can You Borrow?
Many lenders let the total debt on your home reach 80% to 85% of its value, and some go higher, so a HELOC line is roughly that amount minus what you owe. Estimate yours here, then see the monthly payment on the amount you actually plan to use. No email, phone number or sign-up needed.
Reviewed by Tyler Huntington, NMLS #181638 · Updated
Your home and mortgage
Combined loan-to-value to illustrate
The share of your home's value a lender may allow across all loans on it. Each program sets its own limit.
Available on some programs for qualified borrowers.
How much you plan to use
Payments are based on the amount you draw, not the full line.
Your estimate
IllustrativeIllustrative alternatives at 8.25%, not payments from one product. A program may use either, or a different structure.
Payment rules vary by program. A variable rate can change either payment.
An illustration, not a rate quote, offer of credit or guarantee of eligibility. Actual limits and terms depend on the lender's guidelines, your credit, income, debts, property type and state. How this estimate works
Want your actual rate and limit? Talk to a licensed loan officer. Not sold to lead marketplaces. No AI sales callers.
Not every HELOC works the same way
Programs differ in more than rate. These four terms shape what you pay and when, so it's worth checking each one. New to HELOCs? Start with what a HELOC is.
Draw period
The time you can borrow from the line. Depending on the program it may be 3, 5 or 10 years, or structured differently. Draw vs. repayment period
Interest rate
Many HELOCs have a variable rate tied to an index such as the prime rate, so payments can change. Some programs offer a fixed rate. How HELOC rates are set
How funds are paid out
Some lines let you draw as needed. Others pay out the full amount at closing, and payments start on the whole balance.
Repayment
Some programs allow interest-only payments while you draw, then principal and interest. Others require principal and interest from the start. Some structures include a balloon payment.
How lenders set a HELOC limit
Lenders start with your home's value and set a maximum for all the debt secured by it. That percentage is the combined loan-to-value, or CLTV. Your current mortgage comes out of the total, and what remains is the most you could borrow.
The maximum isn't the same everywhere. Some programs go up to 90% for well-qualified borrowers on a primary home; others stop lower.
Combined loan-to-value, explainedWhat usually affects your limit
- Credit score
- Higher limits generally require stronger credit. Some programs reach 90% CLTV only above 720.
- Property type
- Second homes and investment properties usually have lower limits, and some programs don't offer them. See investment property HELOCs.
- Income and debts
- Your debt-to-income ratio has to fit the program, which can reduce the line. See HELOC with high debt-to-income.
- State and program
- Guidelines and availability vary by lender and by state. Texas, for example, limits most homestead equity borrowing to 80% of value.
General patterns, not underwriting guidelines.
How the HELOC calculator works
Two numbers matter: how much a lender may let you borrow against the house, and what the amount you actually use costs each month.
You pick the combined loan-to-value to illustrate: 75%, 80%, 85% or 90%. The calculator doesn't assign a limit from your credit score, because each program sets its own. The most you could owe is rounded down to the whole dollar, never up, and the estimated line can't go below zero.
Payments are figured on the amount you plan to draw, capped at the estimated line. The calculator shows two illustrative structures at the rate you enter: interest-only on the amount drawn, and principal and interest repaid over 10, 15, 20 or 30 years. If you check "the full line is drawn at closing," the payment uses the whole line. Real programs may use either structure, a combination or something else, and a variable rate can change either payment.
The estimate is based on equity only. It doesn't look at income, debts, title or the lender's valuation, so it isn't an approval. See the valuation guide for how a lender's value can change the number.
HELOC guides
All guidesGetting started
- What Is a HELOC? How a Home Equity Line of Credit Works
- HELOC Draw Period vs. Repayment Period: What Changes and When
- HELOC Requirements: What You Need to Qualify
- Can You Have Two HELOCs on the Same Property?
- How Long Does a HELOC Take to Close and Fund?
- HELOC on a Paid-Off House: How Much You Can Borrow
- HELOC on a Second Home: Limits, Rules and Timing
- HELOC on a Rental or Investment Property: Requirements and Limits
Qualifying
- HELOC for Self-Employed Borrowers: How to Qualify
- Bank Statement HELOC: How Lenders Calculate Your Income
- HELOC Without Income Verification: Who Qualifies and What It Costs
- HELOC for 1099 Earners: How Lenders Count Your Income
- HELOC With a Profit and Loss Statement: How It Works
- HELOC With High Debt-to-Income: 4 Ways to Qualify
- HELOC When Your Spouse Has Bad Credit: 3 Ways to Qualify
Prefer to talk it through with a person?
Tyler Huntington is a licensed mortgage loan originator with more than 20 years of experience. He works with multiple HELOC programs and can explain which may fit your situation, with an actual rate and limit. It's optional; everything on this site works without contacting anyone.
Your contact information is not sold to lead marketplaces. No AI sales callers.
HELOC calculator FAQ
How much can I borrow with a HELOC?
Many lenders cap a HELOC so all the debt on your home stays at or below 80% to 85% of its value, and some go higher with strong credit. The math is home value times the maximum CLTV, minus what you owe. A $700,000 home at 85% with $350,000 owed leaves up to $245,000 of equity-based room. Lenders also review credit, income and debt-to-income, so the approved amount can be lower.
Is there a maximum HELOC amount?
Yes, in two ways. The combined loan-to-value limit caps how much of your home's value can be borrowed against, and some programs also set a maximum line amount in dollars. This calculator shows the equity-based limit only.
What is combined loan-to-value (CLTV)?
CLTV is every loan secured by the home, including the new HELOC, divided by the home's value. A $350,000 first mortgage plus a $150,000 HELOC on a $700,000 home is a 71.4% CLTV. Lower CLTV usually means a better rate.
What credit score do I need for a HELOC?
Requirements vary. Many mainstream programs prefer 680 or higher, and some specialty HELOC programs accept scores around 640. Higher scores generally get more options and better pricing.
Can my spouse's income help me qualify for a HELOC?
It can. Some programs allow a co-borrower whose income is added to yours, and in some states certain programs let one spouse apply on their own credit while counting household income.
Is a HELOC payment fixed or variable?
Both exist. Many variable HELOCs are priced at an index, often the prime rate, plus a margin, so the payment can change when the index moves. Some programs offer a fixed rate or fixed-rate options. This calculator shows an interest-only payment and a principal-and-interest payment at the rate you enter, as illustrations rather than one product's terms.
Does using this HELOC calculator affect my credit?
No. There is no credit check, and nothing you type leaves your device unless you choose to send it with the contact form.
Will a HELOC change my current mortgage rate?
No. A HELOC is a separate loan that sits behind your first mortgage. Your first mortgage rate, payment and payoff date stay the same.
How long does it take to get a HELOC?
Traditional banks often take two to six weeks. Online programs that use automated valuations and e-signatures can fund some eligible files in about a week. On a primary residence, federal law adds a three-business-day cancellation period before funds are released.
Is HELOC interest tax deductible?
As home mortgage interest, generally only when the money is used to buy, build or substantially improve the home that secures the loan, within IRS limits. Different rules can apply if the money goes to a business or investment. Ask a tax professional about your situation.