Homeowner calculator
Home Equity & Cash-Out Calculator
See how much equity you have, the most you might borrow at a given combined loan-to-value, and what a cash-out refinance, HELOC, or home equity loan would do to your payment and remaining equity.
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- Updated 2026-09-24
- Equal Housing Lender · NMLS #466690 (verify)
Educational estimate, not a loan offer.
Home Equity & Cash-Out Calculator
Adjust any input and your results update instantly.
How you want to access equity
How this calculator works
Equity = home value − current balance. Maximum illustrative proceeds = home value × combined LTV cap − current balance, minus closing costs if you add them to a cash-out loan. The cash you request is capped at that amount.
Cash-out refinance replaces your mortgage with one new loan for the balance, cash, and any financed closing costs, amortized at the new rate and term. HELOC keeps your first mortgage and adds an interest-only payment on the drawn amount, with the fully amortizing payment shown for the repayment period. Home equity loan keeps your first mortgage and adds a fixed, fully amortizing second-lien payment.
Payments use the same amortization formula as our refinance calculator and exclude taxes and insurance. Rates are your own inputs.
Frequently asked questions
›How do I calculate my home equity?
Home equity is your home value minus what you owe on every loan secured by it. A $500,000 home with a $250,000 mortgage has about $250,000 of equity, or 50%.
›How much equity can I take out of my home?
Lenders cap the combined loan-to-value. A conventional cash-out refinance on a primary home is commonly limited to 80% of value, and many HELOCs and home equity loans allow 80% to 90%. Multiply your value by the cap and subtract what you owe to get a rough maximum before closing costs.
›Is a HELOC or a cash-out refinance better?
A cash-out refinance replaces your whole mortgage, so it can make sense when the new rate is near or below your current rate. A HELOC or home equity loan leaves your first mortgage in place, which usually costs less when your current rate is low, even though the second-lien rate is higher.
›What is a blended rate?
It is the balance-weighted average rate across all your mortgage debt. It shows the real cost of adding a second lien compared with refinancing everything at one new rate.
›Do HELOC payments go up later?
Usually. Many HELOCs allow interest-only payments during a draw period, often 10 years, then require principal and interest over a repayment period. Variable HELOC rates can also change.
Related calculators and guides
Maximum proceeds are illustrations, not a commitment to lend. Cash-out and home equity limits differ by program, lender, credit, occupancy, and appraisal. Borrowing against your home puts it at risk if you cannot repay.
Calculators provide educational estimates only. They are not a loan offer, credit decision, or commitment to lend. Actual terms depend on underwriting, credit, property, and program availability.
Equal Housing Lender · NMLS #466690