Calculate how much you can borrow with a Home Equity Line of Credit (HELOC) based on your home value and mortgage.
Property Details
Standard lending limit is usually 80-85%
Borrowing Capacity
Available HELOC$160,000Estimated credit limit
Lending Limit$360,000
Total Home Equity$250,000
Equity Allocation
About this calculator
Overview
A HELOC is a revolving line of credit that uses your home as collateral. Lenders typically allow you to borrow up to 80-85% of your home's value, minus your existing mortgage balance.
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Pro Tips
HELOCs usually have a 'draw period' (typically 10 years) where you pay only interest, followed by a 'repayment period'.
Interest rates on HELOCs are typically variable, meaning your payments can change over time.
If home values decrease, your credit line could be reduced or frozen by the lender.
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Fun Facts
Formula: (Home Value × Max LTV) - Mortgage Balance
