Home Equity Loan Calculator

A home equity loan is a second mortgage with a fixed lump sum, fixed rate, and fixed payment schedule. Homeowners use them for renovations, debt...

Modify the values and click the Calculate button to use.
Results

Enter values and click Calculate.

Schedule

Related: Mortgage Payoff CalculatorHouse Affordability CalculatorMortgage CalculatorAmortization Calculator

Introduction

A home equity loan is a second mortgage with a fixed lump sum, fixed rate, and fixed payment schedule. Homeowners use them for renovations, debt consolidation, or major expenses—using home equity as collateral.

Home Equity Loans

A home equity loan is a second mortgage with a fixed lump sum, fixed rate, and fixed payment schedule. Homeowners use them for renovations, debt consolidation, or major expenses—using home equity as collateral.

Loan-to-Value (LTV)

Lenders cap combined first mortgage plus home equity loan as a percentage of appraised value—often 80-90% CLTV. Enter current home value and existing mortgage to see available equity.

Fixed Payments and Risk

Predictable payments aid budgeting, but failure to repay can lead to foreclosure. Compare against a HELOC if you need flexible draws rather than one lump sum.

Tax Considerations

Interest deductibility depends on how proceeds are used and current IRS rules. Consult a tax professional; this calculator models payment math only.

How It Works

  1. Enter your amounts, rates, and term in the form. Use the same units shown in the labels (dollars, years, percent).
  2. Click Calculate to run the Home Equity Loan Calculator engine. Invalid or empty required fields show a clear error message.
  3. Review the summary cards for the key outputs. Expand schedules or tables when available for period-by-period detail.
  4. Copy, print, or share your scenario link. Reset the form anytime to start a fresh comparison.

Formula

Monthly payment (amortizing loan): M = P * [r(1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly rate (APR/12), and n is number of months.

FAQ

Yes. CDCalculator.io provides the Home Equity Loan Calculator at no charge for personal and educational use. Results are estimates and not financial advice.

The tool uses standard formulas lenders and planners use in spreadsheets. Your bank may round differently or include fees not modeled here.

Use the Copy Results and Print buttons on the calculator panel after you run a scenario. You can also share the page link with colleagues.

Focus on realistic rates, terms, and any extra payments or contributions. Small changes in APR or time horizon often move outcomes more than rounding.

No. Use this calculator to explore scenarios, then consult a qualified advisor or lender for decisions about mortgage & real estate products.