HELOC Calculator

Estimate how much you can borrow with a Home Equity Line of Credit (HELOC). Lenders typically allow you to borrow up to 85% of your home's value minus your mortgage balance. Enter your details to see your maximum credit line, available credit after a draw, and the monthly interest-only payment during the draw period.

Home Equity Line of Credit Calculator

How HELOC Limits Are Calculated

Lenders use the Combined Loan-to-Value (CLTV) ratio to determine your HELOC limit:

Max HELOC = (Home Value × LTV%) − Mortgage Balance

During the draw period (typically 10 years), you only pay interest on the amount drawn. During the repayment period (typically 20 years), you repay principal and interest on the outstanding balance.

Home ValueMortgage BalanceMax 85% HELOCTotal Equity
$300,000$150,000$105,000$150,000
$400,000$200,000$140,000$200,000
$500,000$250,000$175,000$250,000
$600,000$300,000$210,000$300,000

Frequently Asked Questions

How is a HELOC different from a home equity loan?+
A HELOC is a revolving line of credit — you draw what you need, repay it, and draw again during the draw period, similar to a credit card. Interest rates are usually variable. A home equity loan gives you a lump sum upfront with a fixed interest rate and fixed monthly payments. HELOCs are better for ongoing expenses (renovations, tuition), while home equity loans suit one-time large purchases.
Are HELOC interest payments tax-deductible?+
Under current IRS rules (post-2017 Tax Cuts and Jobs Act), HELOC interest is only deductible if the funds are used to "buy, build, or substantially improve" the home securing the loan. Interest used for debt consolidation, vacations, or other purposes is generally not deductible. Consult a tax professional for your specific situation, as rules can change and individual circumstances vary.

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Home Equity Calculator Mortgage Calculator Refinance Calculator Debt Payoff Calculator Loan Calculator

About the Heloc Calculator

This free heloc calculator helps you get accurate results instantly without needing to work through the math manually. Whether you need a quick estimate or a precise figure, having a reliable tool on hand saves time and reduces errors compared to manual calculation.

How to Use This Calculator

  1. Enter your values in the input fields above. Each field is labeled to guide you.
  2. Double-check your inputs — results are only as accurate as the numbers you enter.
  3. Click the Calculate button to see your result instantly.
  4. Use the result for your planning, budgeting, or decision-making.

Why Accurate Calculations Matter

Small errors in math calculations can compound into significant problems. A 1% miscalculation in a budget or measurement can translate to hundreds or thousands of dollars in wasted resources, or result in having to redo work entirely. This calculator uses the standard formulas and methods to give you reliable results you can trust.

Tips for Getting the Best Results

Frequently Asked Questions

Is this calculator free? Yes — completely free with no account, login, or payment required. Use it as many times as you need.

How accurate are the results? This calculator uses the standard formulas for heloc calculations. Results are accurate for typical use cases. For specialized or high-stakes applications, consult a professional.

Does it work on mobile? Yes. This calculator is fully responsive and works on smartphones, tablets, and desktops.