Use our home equity calculator to determine how much equity you could borrow from your home, whether as a home equity loan or a home equity line of credit, along with the monthly payment. A home equity loan is one lump sum with a fixed interest rate and fixed monthly payments. A home equity line of credit (HELOC), on the other hand, is a revolving line of credit that acts similar to a credit card. You only have monthly payments due when you use the money. To determine which is best for you, weigh the pros and cons of home equity loans versus home equity lines of credit.
To use our home equity line of credit calculator, simply plug in your current appraised value of your home, the amount you still owe on your home, your zip code and your self-rated credit. Our home equity calculator will then show you exactly how much equity you could borrow from your home.
Once you know the amount, you can shop home equity loan rates here.