Home Equity Line of Credit Calculator

Use this calculator to determine the home equity line of credit amount you may qualify to receive. The line of credit is based on a percentage of the value of your home. The more your home is worth, the larger the line of credit. Of course, the final line of credit you receive will take into account any outstanding mortgages you might have. This includes first mortgages, second mortgages and any other debt you have secured by your home.

You may qualify for a CREDIT_LIMIT home equity credit line.

This is based on a maximum debt secured by your home of MAX_OF_LOANS, which is the appraised value of your home times the loan-to-value ratio. ( APPRAISED_VALUE_OF_YOUR_HOME X LOAN_TO_VALUE_RATIO ) **GRAPH**
Results Summary
Appraised value of your home APPRAISED_VALUE_OF_YOUR_HOME
Mortgages you owe MORTGAGES_YOU_OWE
Loan-to-value ratio LOAN_TO_VALUE_RATIO
Maximum debt to be secured by your home MAX_OF_LOANS
Line of credit CREDIT_LIMIT

Credit line available for alternate loan-to-value ratios

**REPEATING GROUP**

Home Equity Line of Credit Calculator Definitions

Appraised value of your home
This is the current appraised value of your home. If it has been a few years since you purchased your home, it may be worth quite a bit more than your original purchase price.
Mortgages you owe
This is the total of all outstanding mortgages on your home. This should include your first mortgage, second mortgages and any other debt that is secured by your home.
Loan-to-value ratio
The loan-to-value ratio is the percent of your home's appraised value that your lender will allow. For example, an 80% loan-to-value ratio would allow you to have $80,000 in debt secured by a home appraised at $100,000. Remember - the total debt allowed includes all outstanding mortgages plus your new line of credit.


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