Find your available equity, borrowing power, and fixed monthly payment on a home equity loan (a lump-sum second mortgage).
A home equity loan lends a lump sum against your equity, at a fixed rate, as a second mortgage. Borrowing power = (home value × max combined LTV) − mortgage balance. Your home secures the loan, so missed payments risk foreclosure. Rates and LTV limits vary by lender and credit. Not lending advice.
A home equity loan gives you a lump sum at a fixed rate, repaid in equal payments — unlike a HELOC's revolving line. How much you can borrow depends on your equity and the lender's combined loan-to-value limit: total your mortgage plus the new loan can't exceed a set percentage of the home's value.
Borrowing power = value × max LTV − mortgage balance
A home equity loan is a fixed-rate lump sum — good for a known one-time cost. A HELOC is a variable-rate revolving line — good for ongoing or uncertain needs. This calculates the fixed-loan option.
Just because you can borrow to 85% LTV doesn't mean you should. Leaving an equity cushion protects you if home values dip, and keeps the payment manageable.
Related: home equity calculator · HELOC payment calculator · loan calculator · all free calculators.
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