Home Equity Calculator
Calculate your home equity and see how much you can borrow with a HELOC or home equity loan.
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Your Home Details
Your Home Equity
$170,000
37.8% of your home value
Available to Borrow (85% CLTV)
$102,500
Est. Monthly Interest
$726/mo
What Can You Use Home Equity For?
- ✓ Home renovations and repairs
- ✓ Debt consolidation (credit cards, student loans)
- ✓ Education expenses
- ✓ Emergency fund or major purchases
- ✓ Investment property down payment
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Understanding Home Equity
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What Is Home Equity?
Home equity is the difference between your home's current market value and what you owe on your mortgage. As you pay down your mortgage and your home value increases, your equity grows.
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How to Calculate Equity
Home Equity = Current Home Value − Mortgage Balance. Most lenders let you borrow up to 80-85% of your home's value minus what you owe.
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Accessing Your Equity
You can access equity through: Home Equity Loan (fixed rate), HELOC (variable rate), Cash-Out Refinance, or Reverse Mortgage (62+).
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Home Equity Loan vs HELOC vs Cash-Out Refinance
| Feature | Home Equity Loan | HELOC | Cash-Out Refinance |
|---|---|---|---|
| Rate Type | Fixed | Variable | Fixed |
| Payout | Lump sum | Line of credit | Lump sum |
| Best For | One-time expense | Ongoing needs | Lower rate + cash |
| Typical Rate | 7-9% | 8-10% | 6-7% |
⚠️ Important Warning
Your home is collateral for home equity loans and HELOCs. If you fail to make payments, you could lose your home. Always borrow responsibly and make sure you can afford the payments.