How it works
The payment section treats the home equity loan as a fixed-rate installment loan. It calculates one principal-and-interest payment for the selected term, then builds an amortization schedule showing how each payment is divided between interest and principal.
The borrowing-limit section applies the entered maximum combined loan-to-value ratio to the home’s current value and subtracts the outstanding mortgage balance. This is an LTV estimate only; lenders may also consider income, credit, property condition, existing liens, and product limits.
Input query strings and outputs
Use an input name in this page’s URL as ?name=value, and join additional inputs with &. Portable shared links may instead use the compact ?ac= state parameter.
Input query strings
10-
?loanAmount=Loan amountMoney · Required · Default: 150,000
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?annualRate=Interest ratePercentage · Required · Default: 8
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?termYears=Loan termNumber · Required · Default: 15
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?includeClosingCosts=Include closing costsTrue or false · Optional · Default: false
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?closingCostValue=Closing cost valueNumber · Required · Default: 2 · Used when includeClosingCosts = true
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?closingCostUnit=Closing cost unitChoice · Required · Default: percent · Accepted values: percent, amount · Used when includeClosingCosts = true
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?closingCostTreatment=Closing cost treatmentChoice · Required · Default: deducted · Accepted values: deducted, upfront · Used when includeClosingCosts = true
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?homeValue=Current home valueMoney · Required · Default: 500,000
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?mortgageBalance=Current mortgage balanceMoney · Required · Default: 230,000
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?maxLtv=Maximum combined LTVPercentage · Required · Default: 80
Outputs
10-
monthlyPaymentMonthly paymentCurrency · Primary output
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totalOfPaymentsTotal of loan paymentsCurrency
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totalInterestTotal interestCurrency
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closingCostsClosing costsCurrency
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totalBorrowingCostInterest + closing costsCurrency
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cashReceivedLoan proceeds receivedCurrency
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cashDueAtClosingCash due at closingCurrency
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estimatedAprCash-flow APR estimatePercentage
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estimatedBorrowingLimitLTV-based borrowing limitCurrency
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combinedLtvCombined LTV with this loanPercentage
Closing costs and proceeds
Closing costs can be entered as a percentage of the loan or as a dollar amount. When costs are deducted from proceeds, the stated loan balance and payment stay the same but the cash received is lower. When costs are paid upfront, the full loan proceeds are shown along with the cash due at closing.
The cash-flow APR estimate treats closing costs as part of the cost of borrowing. A lender’s official disclosure may include different charges or calculation rules.
Reading the results
- Monthly payment is principal and interest only.
- Total of loan payments is the sum of scheduled payments over the full term.
- LTV-based borrowing limit is the maximum additional loan implied by the entered home value, mortgage balance, and LTV cap.
- Combined LTV includes both the current mortgage balance and the requested home equity loan.
Limits
This calculator assumes a fixed interest rate, regular monthly payments, no missed payments, and no prepayment. It does not estimate taxes, insurance, appraisal changes, lender underwriting, tax deductibility, or foreclosure risk. Because the home secures the debt, compare the payment with your broader budget before borrowing.