- Appraised value of your home: This is the current appraised value of your home.
- Mortgages you owe: This is the total of all outstanding mortgages on your home. This should include your first mortgage, second mortgages and any other debt that is secured by your home.
- Loan-to-value ratio: The loan-to-value ratio (also referred to as LTV ratio) is the comparison of your home's appraised value to the amount your lender will allow you to borrow.
Calculate the line of credit you can get with our HELOC calculator
A home equity line of credit gives you access to your credit line when you need it. Use this HELOC calculator to estimate the amount you can borrow. Select the appraised value of your home, the mortgages you owe and loan to value ratio (LTV ratio) for custom results. Once you click View Report, you will see how much you can borrow for a home loan.
What are the benefits of signing up for a HELOC?
A HELOC usually offers a lower interest rate than other loans, so it can be a smart tool to use to consolidate debt or fund home improvement projects. Plus, the interest you pay may be tax deductible*. The amount of equity you have in your home helps determine the amount you can borrow.