Calculate Your Home Equity Loan Amount
Utilize our home equity calculator below to figure out how much you can borrow and if you will qualify for a HELOC or Home Equity Loan
| Type of Use | Loan | Line |
|---|
| Debt Consolidation | 44% | 40% |
| Home Improvement | 25% | 23% |
| Automobiles | 7% | 7% |
| Education | 4% | 6% |
| Major Purchases | 2% | 6% |
| Investment | 2% | 3% |
| Household Expenses | 2% | 2% |
| Business Expenses | 1% | 2% |
| Medical Bills | 1% | 1% |
| Vacation | 1% | 1% |
| Other | 11% | 9% |
| Loan Type | Home Equity Loans | HELOC | Cash Out Refi |
|---|
| Interest Rate | Fixed | Adjustable (in most cases) | Fixed |
| Draw Money | Lump Sum | As needed, throughout draw period | Lump Sum |
| Tax Deductible Interest | No | No | Yes |
| Interest Only Payment | No | Yes | No |
| Interest On | Loan Amount | Amount Drawn | Loan Amount |
