HELOC calculator

Estimate your home
equity potential.

Use our interactive calculator to estimate how much you may be able to borrow through a Home Equity Line of Credit based on your property and financial profile.

Your Property & Finances

Current home value — $600,000

Mortgage balance — $250,000

Lender max LTV — 80%

60%95%

Credit score range

Monthly gross income — $12,000

Monthly debt payments — $3,000

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Estimate Results

Disclaimer: This calculator provides general estimates only and is not a commitment to lend. Terms, eligibility, and funding amounts are subject to underwriting and qualification.

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Real offers NO CREDIT IMPACT

See your actual rate from Figure

The numbers above are our estimate. Add a few details and we'll pull real, personalised offers from Figure — one of the largest HELOC lenders in the US. Checking will not affect your credit score.

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Employment

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Your property and income details from above are included. Offers come directly from Figure and are not a commitment to lend.

Understanding HELOCs

What you should know.

A Home Equity Line of Credit lets you borrow against the equity in your home. You draw funds during a draw period (often 5–10 years) and repay during a repayment period (often 10–20 years). You only pay interest on what you actually use.

During the draw period you can borrow repeatedly up to your limit and typically pay interest only. Once the repayment period begins, the line closes to new draws and you repay principal plus interest on an amortising schedule.

Two ceilings apply, and the lower one wins: the equity ceiling (home value × lender max LTV, less your mortgage balance) and the income ceiling (how much payment your debt-to-income ratio leaves room for). The calculator shows which one is limiting you.

Most HELOC lenders want total monthly debt — including the new interest-only payment — at or below about 43% of gross monthly income. Stronger credit and reserves can stretch that.

Yes. Many owners use home equity as a lower-rate source of business capital. Because the loan is secured against your home, weigh the risk carefully against unsecured business products.

Next step

Ready to put your equity to work?

Talk to an advisor about whether a HELOC or an unsecured business product fits your situation better.

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