Home Equity Calculator — HELOC & Cash-Out Refinance

Find out how much equity you have, your LTV ratio, and how much you could borrow via HELOC or cash-out refinance.

Your Home Details

Current Home Value ($) Use a recent appraisal or Zillow estimate

Remaining Mortgage Balance ($) Your current loan payoff amount

Other Liens / 2nd Mortgage ($) Any HELOC or second mortgage balance

Max LTV for Borrowing (%) Lenders limit borrowing to % of home value

Understanding Home Equity

Home equity is the difference between your home's current market value and what you owe on it. It's your ownership stake in the property and can be used as collateral for borrowing.

Loan-to-Value (LTV) Ratio

LTV = Mortgage Balance ÷ Home Value × 100. Most lenders require LTV below 80% to avoid Private Mortgage Insurance (PMI). For HELOCs and cash-out refis, lenders typically limit combined LTV to 80–85%.

Ways to Access Your Equity

HELOC — Revolving line of credit, variable rate, draw as needed. Best for ongoing expenses.
Home Equity Loan — Fixed lump sum, fixed rate. Best for one-time large expenses.
Cash-Out Refinance — New mortgage for more than you owe; take the difference in cash. Best when you can get a lower rate.

When LTV Matters

LTV below 80%: PMI-free, best rates, most borrowing options
LTV 80–90%: PMI required on conventional loans, limited HELOC options
LTV above 90%: Fewer lenders, higher rates, PMI required

Note: This calculator is for educational purposes only. Actual borrowing limits depend on your credit score, income, lender policies, and current appraisal value.