Home Equity Loan Calculator
Find a home equity loan's payment and APR with closing costs, and how much you can borrow.
Change the values and press Calculate to work out your own figures.
Payment and APR
Enter the amount, rate and term.
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $11,804.96 | $5,396.80 | $144,603.20 |
| 2 | $11,357.03 | $5,844.73 | $138,758.47 |
| 3 | $10,871.92 | $6,329.84 | $132,428.63 |
| 4 | $10,346.57 | $6,855.19 | $125,573.44 |
| 5 | $9,777.58 | $7,424.18 | $118,149.26 |
| 6 | $9,161.36 | $8,040.40 | $110,108.86 |
| 7 | $8,494.02 | $8,707.74 | $101,401.12 |
| 8 | $7,771.29 | $9,430.47 | $91,970.65 |
| 9 | $6,988.55 | $10,213.21 | $81,757.44 |
| 10 | $6,140.86 | $11,060.90 | $70,696.54 |
| 11 | $5,222.83 | $11,978.93 | $58,717.61 |
| 12 | $4,228.57 | $12,973.19 | $45,744.42 |
| 13 | $3,151.80 | $14,049.96 | $31,694.46 |
| 14 | $1,985.68 | $15,216.08 | $16,478.38 |
| 15 | $722.74 | $16,478.38 | $0.00 |
Show the working
- payment = P × i ÷ (1 − (1 + i)^−n)
- each payment: interest = balance × i (to the cent), the rest repays principal
How much you can borrow
Enter the value, mortgage and LTV limit.
Show the working
- limit = value × LTV − mortgage owed
How to use it
Enter the amount, rate and term. Enter the value, mortgage and LTV limit.
Enter amounts without commas or with them; rates are percentages (5 for 5%). Negative amounts are allowed where a sign means money paid out.
Key facts
limit = value × LTV − mortgage owed
Questions
What is the payment on a $150,000 home equity loan at 8% for 15 years?
$1,433.48.
Formulas
limit = value × LTV − mortgage owed
Sources
Limitations
- Results are estimates for planning, not offers or financial advice; lenders and banks may round, count days or time payments differently.
- Rates are nominal annual rates compounded as you choose; payments at a different frequency use the equivalent periodic rate.