🧮 FREE CALCULATOR — UPDATED JULY 2026

Home Equity & HELOC Calculator 2026

See your available equity, HELOC limit (85% LTV), and cash-out refi amount (80% LTV) instantly. $500K home, $200K mortgage = $225K HELOC. Avg US homeowner has $299K equity. Free, no email, no signup.

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HELOC limit = (Home Value × 85%) - Mortgage Balance. Example: $500K home, $200K mortgage = ($425K - $200K) = $225K HELOC. Cash-out refinance: ($500K × 80%) - $200K = $200K lump sum. The average US homeowner has $299K in equity. A HELOC lets you keep your low first-mortgage rate while accessing cash. Use the calculator below for your exact numbers.

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HELOC vs Cash-Out Refinance

FeatureHELOCCash-Out Refi
First MortgageKept (3% rate stays)Replaced
Max LTV85%80%
Rate TypeVariableFixed
Funds AccessRevolving (draw as needed)Lump sum
Closing Costs$0-$1,500$3,000-$8,000
Best ForKeep low 1st mortgageNeed fixed payment
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Home Equity & HELOC FAQ

How much equity can I borrow from my home?
Most lenders allow up to 85% LTV for HELOC or 80% for cash-out refinance. Example: $500K home, $200K mortgage = $225K HELOC or $200K cash-out.
What is the difference between a HELOC and a home equity loan?
A HELOC is a revolving line of credit with variable rates. A home equity loan is a lump sum with fixed rates. HELOCs offer flexibility; home equity loans offer payment certainty.
Can I get a HELOC without touching my first mortgage?
Yes — a HELOC is a second lien behind your first mortgage. If you have a 3% rate, you keep it. The HELOC is separate at current rates (~7-8%).
What credit score do I need for a HELOC?
Most lenders require 680+ for a HELOC. 720+ gets the best rates. You also need DTI below 45% and sufficient equity (typically 15-20% after the HELOC).
What are current HELOC rates in 2026?
As of July 2026, HELOC rates range from 7.5% to 9.5% variable. Prime rate is 7.5%. Most HELOCs are priced at prime + 0-2%. Introductory rates may be lower (6-7%) for 6-12 months. Home equity loan fixed rates: 7.5-9%.
How is LTV calculated for a HELOC?
LTV (Loan-to-Value) = (Total Mortgage Balance + HELOC Limit) ÷ Home Value. Example: $200K mortgage + $225K HELOC = $425K. $425K ÷ $500K = 85% LTV. Most lenders cap HELOC LTV at 85%, meaning your combined mortgages cannot exceed 85% of home value.
Is a cash-out refinance better than a HELOC?
If you have a low first-mortgage rate (3-4%), a HELOC is better — you keep your low rate and borrow at current rates only on the new amount. If your first mortgage is at 6%+, a cash-out refinance may be better since you replace the entire mortgage at a similar rate but get a lump sum. Use our calculator to compare both options.

Related Calculators & Guides

← All Free Mortgage CalculatorsHELOC Payment Calculator →Home Equity Calculator →Refinance Break-Even Calculator →Second Mortgage vs Home Equity Loan →Best Home Equity Loan Rates 2026 →

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