Home Equity Line of Credit Calculator
Home Equity Line of Credit Calculator Definitions
- Appraised value of your home
- Current appraised value of your home.
- Outstanding home loans
- Total amount of all outstanding home loan balances, including your first mortgage, second mortgage(s), and any other debt that is secured by your home.
- Loan-to-value ratio
- Loan-to-value ratio (LTV) is the percentage of your home's appraised value that is borrowed - including all outstanding mortgages and home equity loans and lines secured by your home. For example, a lender's 80% LTV limit for a home appraised at $400,000 would mean a HELOC applicant could have no more than $320,000 in total outstanding home loan balances. Remember, the $320,000 limit would include all existing loans secured by your home plus your new HELOC.