Calculate what you can borrow in a few simple steps.
Your equity is the share of your home you actually own: its current market value minus everything still owed against it. If your home is worth $400,000 and your mortgage balance is $250,000, you hold $150,000 in equity.
Lenders will not let you borrow all of it. They work to a loan-to-value ratio (LTV): the total owed against the property divided by its value. Most home equity loans and HELOCs are priced to a combined LTV around 80%, which on that same $400,000 home means $320,000 of total lending, leaving roughly $70,000 available after the existing $250,000 mortgage.
Some programs go further. A smaller group of lenders and credit unions write to 100% or even 105% LTV, usually for borrowers with strong credit and verifiable income. That is why the calculator starts with a range rather than a single figure: the spread between the conventional ceiling and the highest programs available is real money, and which end you land near depends on your profile.
A home equity loan hands you a lump sum at a fixed rate with a set repayment schedule. It is predictable, and well suited to a known cost like a renovation with a quote attached. A HELOC (home equity line of credit) works more like a credit card secured by your home: you draw what you need during a draw period and pay interest only on the balance, usually at a variable rate. Both are secured against your home, which is what makes their rates lower than unsecured borrowing, and what puts the property at risk if you cannot repay.
Most lenders lend to a combined loan-to-value of about 80%, so on a $400,000 home with a $250,000 mortgage you could borrow roughly $70,000. Some programs reach 100–105% LTV for stronger borrowers, which is why our calculator shows a range rather than one figure.
A home equity loan is a lump sum at a fixed rate with set payments. A HELOC is a revolving line you draw from as needed, usually at a variable rate, paying interest only on what you have drawn. Both are secured by your home.
No. The calculator runs entirely on the figures you enter and performs no credit check. Requesting a precise quote from a lender afterwards is also typically a soft inquiry at first.
Equity is your home’s current market value minus everything still owed against it. Borrowable equity is lower, because lenders cap total lending at a percentage of the value.
It is possible but the terms tighten: expect a lower LTV ceiling and a higher rate. The 100%+ programs are generally not available below strong credit tiers.