Curious how much you might qualify for? Try our Home Equity calculator below – to begin, simply input the value of your home and the total amount of all your outstanding home loans.
Home Equity Credit Calculator
Home Equity Credit Calculator Definitions
- Appraised value of your home
- This is current appraised value of your home.
- Outstanding home loans
- This is the total of all outstanding home loans, including your first mortgage, second mortgage(s), and any other debt that is secured by your home.
- Loan-to-value ratio
- The loan-to-value ratio represents the maximum dollar amount of all outstanding mortgage and home equity loans we'll allow you to have, expressed as a percentage of your home's appraised value. For example, for a home appraised at $100,000, an 80% loan-to-value ratio would allow you to have $80,000 in total outstanding home loans. Remember, this $80,000 includes all existing loans secured by your home plus your new home equity loan or line of credit.