Home Equity Line of Credit Calculator
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Additional Functions
Click this menu to access additional calculator functions including:
Reset to Defaults: Click the "Reset to Defaults" button to reload the default values for this calculator.
Clear all Fields: Click the "Clear all Fields" button to clear all entry fields and reset any radio buttons or drop downs to their default values.
Copy Link: Click to copy a link to this calculator and its current entries to the clipboard. This link can then be pasted into a browser, or another location such as an email or a document. When the link is followed, it will bring up the calculator and load the values that were entered when the link was created.
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Save a copy*: This allows you to save a copy of your entries. Up to 10 sets of data are allowed for each calculator. All data is stored locally and encrypted within your browser. The data is not transmitted over the Internet.
* Note: The "Save a Copy" function is temporary and will only retain information until you clear your browser's cache.
Appraised value of your home
Current appraised value of your home.
Outstanding home loans
Total amount of all outstanding home loan balances, including your first mortgage, second mortgage(s), and any other debt that is secured by your home.
Loan-to-value ratio limit
Loan-to-value ratio limit is the maximum loan-to-value ratio (LTV) your lender will allow. LTV is the percentage of your home's appraised value that is borrowed, including all outstanding mortgages and home equity loans and lines secured by your home. For example, a lender's 80% LTV limit for a home appraised at $400,000 would mean a HELOC applicant could have no more than $320,000 in total outstanding home loan balances. Remember, the $320,000 limit would include all existing loans secured by your home plus your new HELOC.
What if my appraised value changes? |
Definitions
Appraised value of your home
Current appraised value of your home.
Outstanding home loans
Total amount of all outstanding home loan balances, including your first mortgage, second mortgage(s), and any other debt that is secured by your home.
Loan-to-value ratio limit
Loan-to-value ratio limit is the maximum loan-to-value ratio (LTV) your lender will allow. LTV is the percentage of your home's appraised value that is borrowed, including all outstanding mortgages and home equity loans and lines secured by your home. For example, a lender's 80% LTV limit for a home appraised at $400,000 would mean a HELOC applicant could have no more than $320,000 in total outstanding home loan balances. Remember, the $320,000 limit would include all existing loans secured by your home plus your new HELOC.