| Equity as a share of the value | – |
|---|---|
| Owed in all | – |
| Owed as a share of the value | – |
For homeowners
Home equity calculator
See how much equity you have in your home, and what a combined loan-to-value share you choose would leave to borrow against with a HELOC or a home equity loan. It runs in your browser and nothing you type is sent to us.
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- NMLS #103098
- Equal Housing Lender
Home equity options
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Fidelity Residential · NMLS #103098 · Equal Housing Lender
Calculator
HELOC and home equity loan calculator: your equity
Enter your own estimate of the home’s value and what is owed on it. To see what a combined share would leave, type the share you want to test. Lenders set their own limits; this page does not suggest one.
Everything here runs in your browser. Nothing you type is sent to us, saved, or added to the page address. See our Privacy Policy.
Your home
Your own estimate. The lender values the home itself before any line or loan.
What is owed on it
From your latest mortgage statement. Leave blank if you own the home outright.
Another home equity line or loan you would keep. For a line, a lender may count the whole limit, not just what you have drawn. Leave blank if none.
A share to test (optional)
See what combined share it would make, to compare with the limit a lender gives you.
Your estimate
This is an estimate, not an offer or a loan decision. It is worked out from the numbers you enter.
| That share of the value | – |
|---|---|
| Left after what is owed | – |
| Combined share of the value | – |
|---|
This calculator gives estimates for information, worked out from the numbers you enter. It is not a loan application, an offer of credit, a loan decision or a commitment to lend, and it shows no rate, payment or cost. Lenders set their own limits on the combined share, and on credit, income and the property, and they value the home themselves. To see the programs we offer and what you may be eligible for, use the calculators on our HELOC and home equity loan pages.
Guide
How the home equity calculator works
Your equity: what the home is worth minus everything owed on it. The calculator also shows it as a share of the value.
The combined share: each program limits the share of the home’s value that all loans against it may reach together, often called the combined loan-to-value. When you type a share, the calculator takes that share of the value and subtracts what is owed. What is left is the room that share would allow; if what is owed is already more, nothing is left.
The amount you have in mind: added to what is owed and divided by the value, it gives the combined share your plan would make, so you can compare it with the limit a lender gives you.
What a lender adds: the lender values the home, and looks at your credit and your income as well as your equity. Smaller lines and loans may use an automated valuation, and larger ones get a full appraisal.
A worked example, with example figures. Jordan Example, a fictional homeowner, is thinking about a renovation. Every figure here is an example for you to replace with your own; none is our limit or an offer.
The equity. Jordan thinks the home is worth $400,000 and owes $220,000 on the first mortgage, with no other loans against it. The equity is $400,000 minus $220,000, or $180,000: 45% of the value, with 55% owed.
A share to test. Jordan asks a lender what combined share its programs allow and types that share in. The calculator takes that share of $400,000 and subtracts the $220,000 owed; the result is the room that share would leave. If the share of the value came to less than $220,000, nothing would be left.
Next. Jordan compares a line drawn as the work goes on with one lump sum, and asks a loan officer for the figures. Get a quote
Questions
Home equity calculator questions
How do I calculate my home equity?
Take what your home is worth and subtract everything owed on it: the first mortgage balance and any other line or loan against the home. A home worth $400,000 with $220,000 owed (example figures) has $180,000 of equity.
How much can I borrow against my home?
It comes from your equity. The lender looks at what the home is worth, what is owed on it, your credit and your income, within each program’s limit on the share of the home’s value that all loans against it may reach, often called the combined loan-to-value. This calculator shows what a share you type would leave; to see our programs worked out for your answers, use the calculator on our HELOC or home equity loan page. Each is an estimate, not an offer.
What is combined loan-to-value?
Everything owed on the home, including the new line or loan, divided by the home’s value. It is how a lender measures how much of the home would be borrowed against in all. Each lender and program sets its own limit.
Why doesn’t the calculator suggest a share?
Because there is no single limit. Lenders set their own, and they differ by program, by property and by borrower. So the calculator uses the share you type, from a lender’s answer or your own plan, and shows nothing for it until you do.
What home value should I use?
Your own careful estimate, from recent sales of similar homes nearby. The lender then values the home itself: smaller lines and loans may use an automated valuation, with a property inspection on a home equity loan, and larger ones get a full appraisal.
Should I use a HELOC or a home equity loan?
A HELOC is a revolving line you draw from as you need it, at a variable rate, which suits costs that come in stages. A home equity loan, also called a fixed-rate second mortgage, gives you one lump sum at closing at a rate that does not change, which suits a known cost. Both sit behind your first mortgage, which stays as it is. See HELOC and home equity loan.
What are the risks of borrowing against my home?
The home is the security. If you fall behind or cannot repay on schedule, you could lose your home. Borrow for a purpose you have thought through.
Is anything I type saved or sent?
No. The calculator runs in your browser. Nothing you type is sent to us, saved, or added to the page address, and closing the page clears it. To talk it through, call 732-686-9999 or start a quote.
Thinking about using your equity?
Get a quote, apply online, or talk it through with a licensed loan officer.
This page is general information, not a commitment to lend. Programs, terms and eligibility depend on credit, income, property and underwriting review and are subject to change without notice.
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