Heloc Calculator

🧮 How the HELOC Calculator Works

A HELOC allows you to borrow against your home’s equity. This calculator estimates how much credit you may qualify for based on:

• Your home’s market value
• Outstanding mortgage balance
• Lender’s maximum loan-to-value (usually 75–85%)

📌 Formula Used

HELOC Amount = (Home Value × LTV %) − Mortgage Balance

⭐ Advantages of Using a HELOC

• Lower interest rates than personal loans
• Flexible borrowing and repayment
• Interest may be tax-deductible (consult a tax advisor)

❓ FAQs

1. What is a HELOC?

A HELOC is a revolving line of credit secured by your home equity.

2. What LTV do lenders allow?

Most lenders allow up to 80–85% LTV.

3. Does a HELOC affect my mortgage?

No, it is a separate loan.

4. Can HELOC amount be zero?

Yes, if your mortgage balance is too high.

5. Is this calculator accurate?

It gives an estimate; final approval depends on the lender.

🔚 Conclusion

This HELOC calculator helps homeowners quickly estimate how much equity they can access. It’s ideal for financial planning, renovations, or debt consolidation—and works perfectly on WordPress sites.