Home Equity Line of Credit Calculator
Home equity is the difference between the market value of your home and the outstanding amount of your loan. Once you’ve built up enough equity in your home, you can borrow against that amount for other financial needs. Before taking out a HELOC, you’ll want to know how it’ll affect your financial picture, including how much you’ll be able to borrow, how long it’ll take to pay off, and if it’s wise to use the money to pay off other debts. This calculator will help you determine if a home equity loan is right for you.