Bills Logo

Home Equity Loan Calculator - Use Your Home to Take Out Cash

Home Equity Loan Calculator - Use Your Home to Take Out Cash
Betsalel Cohen
UpdatedApr 15, 2019
Key Takeaways:
  • Use Home Equity Loan Calculator to see how much equity you have in your home. Also check your loan-to-value ratio (LTV).
  • Check how much money you can borrow based on lenders LTV requirements, usually 80-85% maximum.
  • Calculate your monthly payments for the HEL and your current mortgage.
Get an estimate of your home equity in 20 seconds with ourCalculator

Home Equity Loan Calculator - 5 Steps to Getting a HEL

Home equity loans (HEL) are a great option if your home value is significantly more than your mortgage balance. You can use a HEL for many reasons, including debt consolidation, home improvements, or paying for college.

A combination of rising home values and paying off your mortgage greatly increases your current home equity position. Use Home Equity Calculator to find out how much you can borrow and your projected monthly payments.

Life Insurance Struggle
Home Equity Loan Calculator
Advertising Disclosures

Use our calculator to estimate your max eligible amount, interest rate, and monthly payment.

Life Insurance Struggle

We will look up your home value via the House Canary API

Life Insurance Struggle

Life Insurance Struggle

Life Insurance Struggle

Your personalized recommendation will appear here

Next Step

support image

Want a personalized quote? It takes less than a minute to get one from Achieve Loans, NMLS 1810501, our premier affiliate, Equal Housing Lender.

  • Prequalify in minutes with instant, upfront offers
  • Debt consolidation or cash out available
  • Less than excellent credit is OK
  • Other solutions offered


Recommendations provided are for estimates and educational purposes only and do not constitute an offer for a loan. Payment information displayed does not include taxes and insurance premiums Information provided such as APRs is subject to change.

Frequently Asked Questions

What Kinds of Home Equity Loans are Available?


There are three types of mortgage loans that you can use to tap into your home equity. 

Cash out Mortgage: If you have a mortgage and want to refinance into a lower rate, or extend the payment period and lower your monthly payments and also take out additional money, then a cash-out mortgage is a great option. One popular reason to take a cash-out mortgage is consolidate your mortgage and credit card debt into one monthly payment.

Home Equity Loan: If you built up equity through paying off your mortgage or rising home prices, you can take out a mortgage (or second mortgage if you already have one). A HEL allows you to tap into you home for many reasons including debt consolidation and home improvements.

Home Equity Line of Credit (HELOC): Do you need money over an extended period of time? Instead of taking a traditional installment payment mortgage, consider an HELOC, which is a revolving line of credit. Similar to a credit card, it allows you to borrow money over time, pay it back, and take out up to your line of credit. A HELOC has variable payments, so you need to budget carefully.


Check out Home Equity Loan Option Calculator.

What is a Home Equity Loan?


home equity loan is a special type of mortgage, which allows you to tap into your home’s value to take out cash. There are many reasons to take out a home equity loan including debt consolidation, home improvements, or paying for college.