How to calculate a HELOC amount

Find out how much you might be able to borrow.

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A HELOC is a revolving line of credit that’s taken out against your home’s equity. Use our calculator for an idea of what to expect as far as eligibility and funding.

4 steps to calculating your HELOC amount

Find a general idea of the HELOC amount you might see approval for, you’ll need to answer four questions:

1. What is your home’s current value?

For a general idea of what your house is worth, turn to online real estate listing sites. Many offer estimates by address to entice you to put your house on the market.

2. How much do you owe on your mortgage?

Log in to your mortgage account to see the current balance on your loan.

→ Your statement shows that you still owe $125,000 on your mortgage.

3. What’s your LTV ratio?

Your loan-to-value ratio is the difference between what you owe on your home and your home’s value represented as a percentage. Most banks look for an LTV ratio of less than 80% for approval.

→ Divide your mortgage balance by your home’s value: $125,000 / $175,000 = 0.71

Using the calculation, your LTV ratio is 71% — which is an eligible LTV ratio for many lenders.

4. How much can you borrow?

Most lenders allow you to borrow up to 80% of your home’s value — less what you owe on your mortgage.

→ First, find 80% of your home’s value: $175,000 * .8 = $140,000

Using this calculation, your typical lender may allow you to borrow up to $140,000.

Next, subtract the outstanding balance of your mortgage from that figure:

Calculate your estimated HELOC amount

What’s the caveat?

Your calculated result is a rule of thumb only. The exact amount you’re able to borrow depends on the lender’s assessment of your risk, including how much it’s willing to let you borrow against your home’s value and your overall creditworthiness. Most lenders look for a credit score of at least 650 for approval.

Overall costs depend on your interest rate during the draw period, how much you end up borrowing against your balance and other factors.

Why we like:

Fast turnaround and competitive fixed rates for qualified borrowers with only an origination fee.

  • Competitive rates.
  • Low fees.
  • Quick preapproval.

Why we like: Figure

Fast turnaround and competitive fixed rates for qualified borrowers with only an origination fee.

  • Get preapproved without a hard credit pull.
  • Loan terms of 5, 10, 15 and 30 years.
  • Borrow up to 95% of the value of your home.
  • Minimum credit score: 600

Compare to other lenders

Name Product Max LTV Min. credit score State availability
95% (CLTV)
Not available in: AK, DE, HI, IA, KY, MD, NY, SC, TX, UT, VT, VA, WV
Fast turnaround and competitive fixed rates for qualified borrowers with only an origination fee.
Available in all states
Connect with vetted lenders quickly through this free online marketplace.

Compare up to 4 providers

Bottom line

Our HELOC calculator can give you an idea of how much you might be eligible to borrow. Your next step is to compare HELOC options to find a lender that meets your needs.

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