How much equity can you use?
Find the equity you could borrow against and compare a line of credit with a fixed home equity loan.
01Equity
02Line of credit (HELOC)
03Home equity loan (fixed)
±Trade-offs to weigh
HELOC
- Borrow only what you need, when you need it
- Low interest-only payments while drawing
Home equity loan
- Fixed rate and payment
- Predictable payoff date
Neither option is right for everyone. It depends on your timeline, cash and comfort with risk.
ƒHow this is calculated
- Available = value × max combined LTV − current mortgage balance.
- HELOC rates are usually variable (prime + margin), so payments can change. Many HELOCs are interest-only during the draw period.
- A home equity loan is a lump sum with a fixed rate and payment.
Estimates for illustration only. This is not a loan offer, rate quote, or commitment to lend. Results come only from the numbers entered above. Interest rates are examples you supply, not advertised rates, so check current rates before deciding. Fee schedules and limits shown are published figures that can change.
This calculator is being provided for educational purposes only. The results are estimates based on information you provided and may not reflect CrossCountry Mortgage, LLC product terms. The information cannot be used by CrossCountry Mortgage, LLC to determine a customer’s eligibility for a specific product or service.
Austin Gerimonte, NMLS #2277430 · CrossCountry Mortgage, LLC NMLS #3029 · Equal Housing Lender · NMLSConsumerAccess.org