HELOC & Home Equity Loan Calculator
Estimate how much home equity you could borrow against, and the payments for a credit line or a lump-sum home equity loan.
Quick answer
Available home equity credit is the home value x the maximum combined loan-to-value percentage, minus the existing mortgage. A HELOC pays interest only during the draw period, then level principal payments in repayment.
HELOC & Home Equity Loan Calculator
Available Credit
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Interest-Only Payment (draw)
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Payment in Repayment
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Total Interest
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Total Repaid
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Combined LTV After Borrowing
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Year-by-Year Balance
| Year | Phase | Payments (₹) | Interest (₹) | Balance (₹) |
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Assumptions & method
- Available credit = home value × max combined LTV − existing mortgage balance (never below zero). Lenders set their own limits.
- Interest-only payment = amount drawn × annual rate ÷ 12. The balance does not fall during the draw period.
- Repayment payment = B × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r = annual rate ÷ 12 and n = repayment years × 12. At 0% it is B ÷ n.
- A single draw is taken at the start at one fixed rate; no further draws, early repayments, fees or rate changes are modelled. Loan mode skips the draw period.
- Payments are monthly, at month end. Closing costs, annual fees and taxes are not included. Results are estimates, not advice.
Results are estimates based on the figures you enter. They are not guarantees and not financial advice.
How home equity borrowing works
Home equity borrowing lets you use the part of your property's value that you own outright. A lender caps total debt, your existing mortgage plus the new borrowing, at a percentage of the home's value. What is left under that cap is the available credit. A credit line has two phases: a draw period with interest-only payments, then a repayment period where principal is cleared in level payments. A home equity loan skips the first phase and amortizes a lump sum from day one. This page estimates both.