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(256) 705-0985
Get Pre-Approved
(256) 705-0985
Get Pre-Approved
(256) 705-0985
Get Pre-Approved
(256) 705-0985
Get Pre-Approved

HELOC Calculator

Calculate your monthly HELOC payment

You can typically access up to 85% of your homes equity in some cases you can go up to 90% at a higher interest rate. To figure out the maximum you can withdraw subtract your remaining mortgage balance from the current value of your home then multiply that number by .80. Example $400,000 (current value) x .8999 - $180,000 (remaining loan balance) = $179,960 available equity.
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This is only an estimation, your loan officer will review your actual interest rate with you once we have received all necessary documentation.
%
The interest only or Draw Period is typically 10 years.
Once the draw period ends, the repayment period begins. This period is typically 10 years. During the repayment period your payments will include both principal and interest, meaning they will be higher than the interest-only payments.

Line of Credit Information

Loan Amount
$0.00
Draw Period Payment
$0.00
Repayment Period Payment
$0.00
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This HELOC calculator is intended for informational purposes only and does not constitute a loan offer or approval. Estimates are based on user inputs and typical lending guidelines, which may vary. Actual loan limits and terms depend on property appraisal, credit history, and lender criteria. Please consult with a licensed mortgage professional for personalized advice.

How Much Can You Borrow with a Home Equity Line of Credit (HELOC)?

Our HELOC calculator helps you estimate how much equity you can tap into based on your home’s current value and mortgage balance. Whether you’re planning a remodel, consolidating debt, or funding a major purchase, a Home Equity Line of Credit offers flexible access to funds when you need them.

Use this tool to get a quick snapshot of your borrowing potential and prepare for conversations with a lender.

How the HELOC Calculator Works

To calculate your estimated HELOC limit, you’ll need the following:

  • Estimated Current Home Value: The market value of your home
  • Outstanding Mortgage Balance: The amount you still owe on your primary mortgage
  • Maximum Loan-to-Value (LTV) Ratio: Most lenders allow you to borrow up to 85% of your home’s value, with Redmond Mortgage you can borrow up to 89.99% of your home’s value!

HELOC Formula:

(Home Value × LTV %) – Current Mortgage Balance = Estimated Available Equity

Example:
If your home is worth $400,000 and you owe $250,000, and the lender allows 89.99% LTV:
($400,000 × 0.8999) – $250,000 = $109,960 available equity

Why Use Our HELOC Calculator?

  • Quickly estimate your available credit
  • Plan for home improvements or large expenses
  • Understand your equity position before applying
  • Prepare for lender requirements and discussions
  • Make smarter financial decisions with real-time numbers

This calculator is a great starting point if you’re considering a HELOC to unlock the value of your home.