Home Equity Loan Calculator
See how much of your equity a lender would typically advance, then what a fixed-rate lump-sum second mortgage would cost each month and in total. This is a home equity loan, not a HELOC.
Method and copy last reviewed · How our calculations work
Your home and the loan you want
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Commonly 80–90%
How much equity you could tap
- Equity in the home
- $170,000.00
- Borrowable at 85% CLTV
- $102,500.00
- Current LTV
- 62.2%
- LTV after this loan
- 73.3%
What the equity loan costs
Monthly payment (principal & interest)
$485.07
On top of your existing mortgage payment, taxes and insurance.
- Total interest
- $37,312.67
- Total repayment
- $87,312.67
- Payoff date
- Nov 2041
- Term
- 15 yr 1 mo
Repayment schedule
181 payments · final payment Nov 2041
| Year | Paid | Interest | Principal | Balance |
|---|---|---|---|---|
| 2026 | $970.14 | $686.53 | $283.61 | $49,716.39 |
| 2027 | $5,820.84 | $4,035.09 | $1,785.75 | $47,930.64 |
| 2028 | $5,820.84 | $3,882.05 | $1,938.79 | $45,991.85 |
| 2029 | $5,820.84 | $3,715.91 | $2,104.93 | $43,886.92 |
| 2030 | $5,820.84 | $3,535.52 | $2,285.32 | $41,601.60 |
| 2031 | $5,820.84 | $3,339.70 | $2,481.14 | $39,120.46 |
| 2032 | $5,820.84 | $3,127.11 | $2,693.73 | $36,426.73 |
| 2033 | $5,820.84 | $2,896.26 | $2,924.58 | $33,502.15 |
| 2034 | $5,820.84 | $2,645.65 | $3,175.19 | $30,326.96 |
| 2035 | $5,820.84 | $2,373.56 | $3,447.28 | $26,879.68 |
| 2036 | $5,820.84 | $2,078.14 | $3,742.70 | $23,136.98 |
| 2037 | $5,820.84 | $1,757.46 | $4,063.38 | $19,073.60 |
| 2038 | $5,820.84 | $1,409.25 | $4,411.59 | $14,662.01 |
| 2039 | $5,820.84 | $1,031.19 | $4,789.65 | $9,872.36 |
| 2040 | $5,820.84 | $620.76 | $5,200.08 | $4,672.28 |
| 2041 | $4,850.77 | $178.49 | $4,672.28 | $0.00 |
Ask Fetch
Ask about your numbers
Fetch explains your results in plain English. Every number comes from re-running the calculator above, so the figures are exact — never generated.
How this calculator works
First it works out your equity — the home's value minus what you still owe. Then it applies your lender's combined loan-to-value ceiling: value × CLTV limit − existing mortgage balance. That is the realistic borrowing headroom, and it is normally smaller than your equity.
The loan itself is amortized like any fixed-rate installment loan: P = A · r / (1 − (1 + r)⁻ⁿ) with A the amount borrowed, r the monthly rate and n the number of months. Interest accrues monthly on the balance outstanding, and the final payment absorbs rounding so the balance lands exactly on zero.
A worked example
A home worth $450,000 with $280,000 still owed carries $170,000 of equity, but at an 85% CLTV limit only about $102,500 is borrowable. Take $50,000 of it at 8.25% over 15 years and the payment is roughly $485 a month, with total interest around $37,000 — so about $87,000 repaid for $50,000 received.
Shorten the same loan to 10 years and the payment rises to roughly $613 while total interest falls to about $23,600. Same money, very different price.
Key considerations
Home values here are your own estimate; lenders use an appraisal or an automated valuation and will size the loan from their number, not yours.
Because the debt is secured on your home, comparing it with an unsecured personal loan on monthly payment alone understates the difference. Consider what happens if income or property values change before the term ends.
Frequently asked questions
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FetchCalc is an independent calculator and educational service. We are not a lender, broker, or financial adviser, and nothing here is financial advice. Estimates are for planning only; your actual offer and payment will come from your lender.