HELOC Calculator — Estimate Your Available Home Equity
Calculate your available HELOC amount and estimate monthly payments. Find out how much you can borrow against your home equity in 2026.
A Home Equity Line of Credit lets you borrow against the equity you have built in your home. Most lenders allow you to borrow up to 80-85% of your home value minus what you still owe on your mortgage. HELOCs work like a credit card with a revolving credit line and you only pay interest on what you actually use. They are commonly used for home renovations debt consolidation education expenses or emergency funds. Our calculator helps you estimate your available credit line and monthly payments during both the draw and repayment periods.
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Key Information
| Parameter | Details |
|---|---|
| Typical LTV Limit | 80% - 85% |
| Average HELOC Rate (2026) | 7.5% - 9.5% variable |
| Draw Period | 5 - 10 years |
| Repayment Period | 10 - 20 years |
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Use Calculator NowFrequently Asked Questions
How much HELOC can I get?
Your HELOC amount depends on your home value and existing mortgage balance. Multiply your home value by 0.85 then subtract your mortgage balance. For example if your home is worth $400000 and you owe $250000 your maximum HELOC would be $340000 minus $250000 equals $90000. Your credit score income and debt-to-income ratio also affect the final approved amount.
Is HELOC interest tax deductible?
HELOC interest is tax deductible only if you use the funds to buy build or substantially improve your home. Under the Tax Cuts and Jobs Act of 2017 interest on HELOC used for other purposes like debt consolidation or vacations is not deductible. Keep records of how you use HELOC funds in case of an IRS audit.
What happens if my home value drops with a HELOC?
If your home value falls below what you owe on your mortgage plus HELOC combined you could end up underwater. The lender may freeze your HELOC preventing further draws or even reduce your credit limit. In extreme cases if you cannot make payments the lender can foreclose since a HELOC is secured by your home.
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Last updated: 24 March 2026