How much can I borrow with a home equity loan?
Enter your rate in the box below.
Calculate your available equity and payment
Chart unavailable — see the figures above.
Most lenders cap your combined loan-to-value (CLTV), current mortgage plus the new loan, at 80-85% of your home's value. Available equity is roughly (home value x CLTV cap) minus what you still owe. Enter your numbers in the calculator above for your estimated available equity and a fixed monthly payment at your chosen rate and term.
Last updated October 24, 2026| Home equity loan / HELOC, primary residence | 80% to 85% CLTV, typical range |
|---|---|
| Home equity loan / HELOC, second home | 70% to 75% CLTV, typical range |
| Home equity loan / HELOC, investment property | 65% to 70% CLTV, typical range |
| Cash-out refinance (conventional) | Up to 80% LTV, typical |
Every lender sets its own limit, and it can vary by credit score, property type, and loan amount. Confirm the exact figure with a specific lender before relying on it.
What counts as "available equity" versus "retained equity"?
Your current equity is simply your home's value minus what you still owe on your mortgage. Lenders will not let you borrow against all of it. They cap your combined loan-to-value (CLTV), your existing mortgage plus the new loan, at some percentage of your home's value.
Available equity is the portion of your current equity you can actually borrow: (home value × CLTV cap) minus your mortgage balance. Retained equity is the rest, the slice the lender requires you to keep as a cushion. The chart above shows all three as one bar equal to your full home value.
How is the fixed monthly payment calculated?
The calculator uses the standard fixed-rate amortization formula on the amount you enter as "amount you want to borrow" (which defaults to your full available equity):
payment = P × [r(1+r)^n] / [(1+r)^n − 1]
where P is the loan amount, r is your monthly rate (annual rate divided by 12), and n is the number of monthly payments (term in years × 12). This is the same formula used for a fixed-rate mortgage payment, applied to a fixed-rate home equity loan.
What this calculator is not
This tool gives a quick estimate for planning purposes. It does not check your credit, income, or debt-to-income ratio, does not include closing costs, appraisal fees, or origination fees, and does not reflect any specific lender's actual underwriting rules or rate. Real CLTV limits, rates, and payments vary by lender and by borrower.
Disclosure: FreeRateUpdate operates a network of licensed lenders and brokers and may be compensated if you are connected with one through our site. That relationship does not change the math this calculator performs, and this page does not recommend any specific lender or product.
This is general information, not advice about your specific situation.
How does the combined loan-to-value (CLTV) limit affect this calculator?
The calculator uses the CLTV limit you enter to estimate available equity: your home value times that limit, minus what you still owe. Try different limits to compare scenarios.
What is the difference between a home equity loan and a HELOC?
A home equity loan pays you a lump sum that you usually repay with fixed monthly payments over a set term. A HELOC is a revolving credit line: you draw what you need during a draw period, and its rate is usually variable.
Is the monthly payment on this calculator a lender's offer?
No. It is the fixed payment on the amount, rate and term you enter, so you can compare scenarios. A lender's offer depends on your credit, your home and its own rates.