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Home Equity Loan Calculator — Payment & Borrowing Power

Enter your home value, mortgage balance, and loan terms to see your monthly payment and maximum borrowing power.

Updated July 2026 · Editorial standards

Your monthly payment
$492.37/mo
Most you can borrow
$70,000
Total interest over the term
$38,627
Loan modeled$50,000CLTV after75.0%Equity left$100,000

Your home & loan

$
$
$
%
years

Key figures

Monthly payment
$492.37
Most you can borrow
$70,000
Loan modeled
$50,000
Total interest
$38,627
Equity left after the loan
$100,000

Borrowing $50,000 at 8.5% for 15 years costs $492.37/month and $38,627 in total interest — your combined loan-to-value lands at 75%.A home equity loan is a second mortgage secured by your house — missed payments risk foreclosure. Interest may be tax-deductible only when the money buys, builds, or substantially improves the home (and only if you itemize).

Monthly payment
$492.37/mo
By KalkWiseVerified against official sources Updated July 2026

What is the home equity loan calculator 2026?

In short

On a $400,000 home with $250,000 left on the mortgage, an 80% CLTV limit lets you borrow up to $70,000. A $50,000 home equity loan at 8.5% for 15 years costs $492/month and about $38,600 in total interest, leaving $100,000 of equity untouched.

This calculator sizes a fixed-rate home equity loan (a second mortgage): the maximum you can borrow at your lender's combined loan-to-value limit, the monthly payment and total interest on the amount you actually want, and the equity you keep. It caps the modeled loan at your real borrowing power.

How to use this calculator

  1. 1Enter your home's current market value and remaining mortgage balance.
  2. 2Enter the loan amount you want — if it exceeds your equity headroom, the calculator caps it and tells you.
  3. 3Set the fixed rate and term (10–15 years is typical).
  4. 4Adjust the CLTV limit to match your lender — most cap at 80–85%.

The formula

max loan=home value×CLTV%−mortgage balance
payment=P×r1−(1+r)−n
total interest=payment×n−P
Max loan = home value × CLTV% − mortgage balance. Payment = P × r / (1 − (1+r)^−n), where r = monthly rate, n = months. Total interest = payment × n − P.
CLTV
— Combined loan-to-value: (first mortgage + this loan) ÷ home value — lenders cap it at 80–85%
P
— Loan principal (lump sum, fixed rate — unlike a HELOC)
n
— Term in months

Worked example

The scenario

gives

The result

Common use cases

  • Homeowners sizing a renovation or debt-consolidation loan against their equity
  • Comparing a fixed home equity loan against a variable-rate HELOC for the same project
  • Checking how much equity cushion remains after borrowing

Limitations & assumptions

  • Rates vary with credit score and CLTV — the modeled APR is your input, not a quote.
  • Closing costs (typically 2–5% of the loan) and appraisal fees are not included.
  • Lender minimums (often $10,000–$25,000) and debt-to-income limits are not modeled.
  • Interest is tax-deductible only when proceeds buy, build, or substantially improve the home securing the loan — and only if you itemize.

Frequently asked questions

Most lenders let combined loans reach 80–85% of your home's value. On a $400,000 home with a $250,000 mortgage that's $70,000–$90,000 of borrowing power — subject to credit score, income, and debt-to-income checks.

Disclaimer: KalkWise calculators are provided for general informational and educational purposes only and do not constitute financial, investment, tax, or legal advice. Results are estimates based on the figures you enter and the assumptions described above. Actual outcomes will vary. Consult a qualified professional before making financial decisions.