Home Equity Loan Calculator

Most lenders let you borrow up to 85% of your home's value minus your existing mortgage. For example, on a $450,000 home with a $280,000 mortgage, you could access up to $102,500 in equity. Our calculator shows your exact available equity in real time.

Home equity loan rates average around 8.4% in 2026, though rates vary by credit score, CLTV, and lender. Fixed-rate home equity loans typically run 1–3% higher than primary mortgage rates. Use our calculator to see your payment at any rate.

Interest may be tax deductible when loan proceeds are used to buy, build, or substantially improve your home. Interest on loans used for debt consolidation or other purposes is generally not deductible. Our calculator models tax savings for home improvement loans.

A home equity loan gives you a lump sum at a fixed rate with fixed payments. A HELOC is a revolving credit line with variable rates and interest-only payments during the draw period. Use our HELOC calculator to compare both options.

Most home equity loans close in 2–6 weeks, including appraisal, underwriting, and closing. Some online lenders offer faster timelines. You'll need sufficient equity, good credit (typically 620+), and proof of income.