A free home equity loan calculator with your borrowing limit and the payment over every length.
See how much you can borrow against your home, and a home equity loan's payment over every length.
Your numbers
Lenders usually let you borrow up to 80% to 85% of your home's value, minus what you owe. Leave the amount empty to use all of it.
Your result
Fill in the fields above to see your result.
Embed this tool on your site
Paste the code into any page: WordPress, Webflow, Squarespace, Ghost or plain HTML. It's free with the credit under it, which links back to navid.me.
This free home equity loan calculator shows how much you can borrow against your home and the monthly payment on a home equity loan, over every length from 5 to 30 years.
A home equity loan is a lump sum at a fixed rate, so the payment never changes.
I built it because the length of the loan changes the cost more than people expect. Seeing 5 to 30 years side by side shows what a lower payment really costs.
TL;DRKey takeaways
What is a home equity loan calculator?
A home equity loan calculator works out the payment on a loan secured by your home's equity: its value minus what you owe. It's sometimes called a second mortgage.
How to use the home equity loan calculator
You need your home's value, what you owe, and the amount you want.
Your numbers stay in your browser.
A worked example
Here's the example the calculator loads when you press Try an example: a $500,000 home, $300,000 owed, an 85% limit, $40,000 at 8%.
- A month
- $811.06
- Interest
- $8,663.35
- A month
- $485.31
- Interest
- $18,237.25
- A month
- $382.26
- Interest
- $28,806.95
- A month
- $334.58
- Interest
- $40,298.25
- A month
- $293.51
- Interest
- $65,662.10
Going from 15 to 30 years saves $88.75 a month and costs $36,855.15 more in interest.
When a home equity loan makes sense
A fixed lump sum suits some jobs better than others.
A known, one-time cost
A roof, a renovation with a fixed quote, or paying off higher-rate debt.
When you want a fixed payment
The rate doesn't move, unlike most HELOCs. The HELOC calculator shows the other option.
Mistakes to avoid
These are the ways a home equity loan backfires.
- Picking the longest length for the lowest payment
- Using it to pay off cards, then running the cards up again
- Forgetting closing costs on the loan
- Borrowing the maximum because it's available
The debt payoff calculator shows what clearing other debts with it saves.
Who is the home equity loan calculator for?
It's for homeowners with a big one-time cost, and these tools help compare.
- HELOC calculator – for a line of credit instead
- Loan calculator – for any other loan
- Debt payoff calculator – for clearing other debts
- Mortgage calculator – for the first mortgage
- Net worth tracker – for your equity over time
Pick the shortest length whose payment you can carry comfortably.
Plan your money with your AI
Take your numbers further in
Home Equity Loan Calculator FAQs
Questions about the home equity loan calculator? Here's what to know.
A home equity loan calculator works out how much you can borrow against your home and the monthly payment.
This free one compares 5 to 30 years side by side.
Usually up to 80% to 85% of your home's value, minus what you owe.
That's $125,000 on a $500,000 home with $300,000 owed at 85%.
Like any fixed loan: payment = P × r ÷ (1 − (1 + r)^−n).
For $40,000 at 8% over 15 years, that's $382.26 a month.
Yes, it's a second loan secured by your home.
It sits behind your first mortgage.
It's better for a fixed, one-time cost and a fixed payment.
A HELOC suits costs that come in stages.
Usually yes, so the payment stays the same.
Check your lender's terms.
Yes, your home secures it.
If you can't repay, the lender can foreclose.
I did.
I'm Navid Moazzez, and I made the home equity loan calculator as one of my free tools on navid.me.
More about me.
Navid Moazzez
AI business strategist & AI OS builder
Navid Moazzez helps creators and founders master AI and build their own AI Operating System (AI OS) to automate their business and life.
Navid.me is reader-supported. When you buy through links on this site, I may earn an affiliate commission. Learn more.
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