The loan amount you can borrow as a HELOC depends on your home equity. To calculate your home equity line of credit monthly payment, first calculate your home equity to know how much you can borrow as a home equity line of credit.
Your home equity is the difference between your home’s current value and your current mortgage balance. You can borrow up to 65% of your home equity as a HELOC.
During the draw period, you have to pay only interest on the withdrawal amount, then during the repayment period, you have to pay principal plus interest.
You can calculate your home equity with your Loan to Value Ratio (LTV) with our Home Equity Calculator
You can calculate your monthly Home Equity Loan Payment with our Home Equity Loan Payment Calculator.
Home Equity Line of Credit (HELOC) Calculator
Estimate your draw period and repayment period monthly payments
