Calculate home equity loan payments, available equity, and LTV ratio. Compare borrowing options and estimate total interest costs for second mortgages.
Frequently Asked Questions
How much can I borrow with a home equity loan?
Most lenders allow you to borrow up to 80-85% of your home value minus your existing mortgage balance.
For example, a $500,000 home with $300,000 mortgage could allow up to $125,000 in home equity borrowing.
What is the difference between home equity loan and HELOC?
A home equity loan provides a lump sum with fixed interest rates and payments.
A HELOC is a revolving credit line with variable rates where you draw funds as needed during the draw period.
Is home equity loan interest tax deductible?
Interest may be deductible if funds are used to buy, build, or substantially improve your home.
The deduction is limited to loans up to $750,000 combined with your primary mortgage.
Consult a tax professional.
About This Page
Editorial & Updates
- Author: SuperCalc Editorial Team
- Reviewed: SuperCalc Editors (clarity & accuracy)
- Last updated: 2026-01-13
We maintain this page to improve clarity, accuracy, and usability. If you see an issue, please contact hello@supercalc.dev.
Financial/Tax Disclaimer
This tool does not provide financial, investment, or tax advice. Calculations are estimates and may not reflect your specific situation. Consider consulting a licensed professional before making decisions.