GlenCalc

Home equity loan calculator

Lenders let you borrow up to a share of your home’s value, less what you still owe. Enter your numbers to see the most you could borrow and what a loan would cost each month.

Often 80 to 90%.

Your answer

Most you can borrow$132,500.00
Payment on $50,000.00$492.37
Equity$200,000.00
Combined loan-to-value after borrowing66.7 %
Total interest$38,626.56

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How we worked it out

Updated as you change the numbers.

  1. Lender limit = $450,000.00 × 85% = $382,500.00.
  2. Less the mortgage balance $250,000.00 = $132,500.00 available.
  3. Payment on $50,000.00 over 180 months at 8.5% = $492.37.

Method and assumptions

The borrowing limit is the home value × the lender’s maximum combined loan-to-value (CLTV), less everything already owed on the home. The payment is a standard fixed-rate loan payment.

Questions

How much equity can I borrow?

With a $450,000 home, $250,000 owed and an 85% limit: $450,000 × 85% − $250,000 = $132,500.

Sources

Method and figures checked on . Every worked answer on this page is covered by an automated test. Found a mistake? Tell us.

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