HELOC Calculator
HELOC (home equity line of credit) limit from home value, mortgage and the lender’s CLTV limit, plus the interest-only payment on your draw. How it works
Use the HELOC Calculator
About the HELOC Calculator
With a $400,000 home, a $250,000 mortgage and a lender that allows 85% combined loan-to-value, the HELOC limit is $90,000: $400,000 × 85% − $250,000. Drawing $50,000 at 8.5% costs $354.17 a month in interest only during the draw period. The HELOC calculator does not model the repayment period that follows.
Maximum HELOC line on a $400,000 home
| Mortgage balance | 80% CLTV limit | 85% CLTV limit | 90% CLTV limit |
|---|---|---|---|
| $150,000 | $170,000 | $190,000 | $210,000 |
| $200,000 | $120,000 | $140,000 | $160,000 |
| $250,000 | $70,000 | $90,000 | $110,000 |
| $300,000 | $20,000 | $40,000 | $60,000 |
Line = home value × the lender’s combined loan-to-value limit − mortgage balance. Each lender sets its own limit.
Interest-only monthly payment by amount drawn
| Amount drawn | At 7% | At 8.5% | At 10% |
|---|---|---|---|
| $10,000 | $58.33 | $70.83 | $83.33 |
| $25,000 | $145.83 | $177.08 | $208.33 |
| $50,000 | $291.67 | $354.17 | $416.67 |
| $75,000 | $437.50 | $531.25 | $625.00 |
Amount drawn × yearly rate ÷ 12, during the draw period. None of it reduces the balance.
Frequently asked questions
- How much can I borrow with a HELOC?
- Home value × the lender’s combined loan-to-value limit, minus what you owe on the mortgage. The CFPB describes the limit the same way, as a percentage of the appraised value minus the amount owed. On a $400,000 home with $200,000 owed, an 80% limit gives $120,000 and 90% gives $160,000.
- How is a HELOC interest-only payment calculated?
- Amount drawn × yearly rate ÷ 12. $50,000 at 8.5% is $354.17 a month and $25,000 at 7% is $145.83. An interest-only payment pays nothing toward the principal.
- What happens when the HELOC draw period ends?
- The repayment period starts. The CFPB says the lender may set a schedule to repay the full balance, often over 10 or 20 years, and that monthly payments are often significantly higher then; some plans want the whole balance at once. This calculator shows only the draw-period interest. The link under the payment opens the interest-only loan calculator with your draw and rate, 10 draw years and 20 repayment years, which you can change there: $50,000 at 8.5% goes from $354.17 to $433.91 a month when repayment starts.
- Which LTV limit should I enter?
- The combined limit your lender quotes, from 10% to 100%. Each 5 points moves the line by 5% of the home value: on a $400,000 home with $250,000 owed, 80% allows $70,000, 85% allows $90,000 and 90% allows $110,000.
- Why is my maximum HELOC limit $0?
- Your mortgage already uses up the lender’s combined limit. A $400,000 home with $350,000 owed is at 87.5% loan-to-value, so an 85% limit leaves no room for a line, although the page still shows $50,000 of equity. Any draw then shows a message instead of a payment.
- Can I draw more than the HELOC limit?
- Not in the calculator. A draw above the maximum line shows a message instead of a payment, so lower the draw or check the balance and limit you entered.
Related Tools
View all toolsHome Equity Loan Calculator
Home equity loan payment: monthly principal and interest and total interest for a fixed rate and term, plus how much you can borrow at 80% or 85% CLTV.
Interest Only Loan Calculator
Interest-only loan: the payment during the interest-only years, the higher payment after, the jump and total interest against a standard loan.
Credit Card Payoff Calculator
Months to pay off a credit card at a fixed monthly payment, or the payment that clears it in a set number of months, with total interest and total paid.
Mortgage Calculator
Monthly principal-and-interest payment on a fixed-rate mortgage from the loan amount, or home price and down payment, plus the total paid and total interest.
Paycheck Calculator
Estimate take-home pay per paycheck from salary or hourly pay, pay frequency and filing status, after federal income tax, FICA and the state rate you enter.
Credit Card Reward Optimizer Calculator
Enter your cards' cashback or points rates, annual fees and monthly spending by category: see the best card for each category and which cards earn their fee.