How to Use This Home Equity Loan Calculator
Our free home equity loan calculator helps you estimate your costs quickly and accurately. Simply enter your details above and click Calculate to get instant results.
Why Use Our Calculator?
Get accurate estimates in seconds. Our calculator uses current 2026 rates and formulas to give you the most accurate estimate possible, helping you plan your finances with confidence.
Frequently Asked Questions
What is a home equity loan?
A home equity loan lets you borrow against your home equity. It is a fixed-rate loan with fixed monthly payments, often called a second mortgage.
How much can I borrow?
Most lenders let you borrow up to 80-85% of your home value minus your mortgage balance.
What are current home equity loan rates?
In 2026, rates typically range from 7% to 10% depending on your credit score and lender.
Home equity loan vs HELOC?
A home equity loan gives a lump sum at a fixed rate. A HELOC is a revolving credit line with variable rates. Loans offer payment predictability; HELOCs offer flexibility.
Is home equity loan interest tax deductible?
Interest may be deductible if funds are used to improve your home. Interest for other purposes is generally not deductible. Consult a tax advisor.