Home Equity Calculator
Calculate your home equity and determine how much you can borrow against your home's value
Home Equity Analysis
Current Home Equity
$220,000
Equity Percentage
44%
Available to Borrow
$120,000
Remaining Equity After
$100,000
Equity Breakdown
Current Home Value
$500,000
First Mortgage Balance
-$280,000
Second Mortgage Balance
$0
HELOC Balance
$0
Net Home Equity
$220,000
Equity Distribution
Borrowing Options Comparison
| Loan Type | Max Amount | Est. Rate | Est. Payment | Pros/Cons |
|---|---|---|---|---|
| Home Equity Loan | $120,000 | 8.2% | $1,465 | Fixed rate, lump sum |
| HELOC | $120,000 | 8.5% | $850* | Variable rate, flexible access |
| Cash-Out Refinance | $120,000 | 7.5% | $2,797 | New first mortgage |
*HELOC payment shown is interest-only during draw period
Equity Growth Projection
%
Equity in 5 Years
$285,000
Equity in 10 Years
$365,000
Home Equity Tips
🏠 Building Equity
Equity grows through mortgage payments, home improvements, and market appreciation.
💰 Smart Uses
Best uses include home improvements, debt consolidation, and education expenses.
⚠️ Risks
Your home is collateral. Market downturns can reduce equity and borrowing capacity.
🏦 Loan Types
Compare home equity loans, HELOCs, and cash-out refinancing for your needs.
📊 LTV Limits
Most lenders limit combined loans to 80-90% of home value depending on credit and purpose.
💡 Tax Benefits
Interest may be tax-deductible if funds are used for home improvements that add value.