Free calculator
Home Equity Loan Calculator
A home equity loan calculator estimates the monthly payment and lifetime interest on a fixed-rate second mortgage. Enter the amount, rate, and term to price borrowing against your equity.
The lowest rates are only available to the most qualified applicants.
Advertising disclosure: Loancalculated may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. Read the full disclosure.
Enter your numbers and press Calculate. Nothing you type leaves your browser.
The lowest rates are only available to the most qualified applicants.
Advertising disclosure: Loancalculated may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. Read the full disclosure.
How this calculator works
A home equity loan is a fixed-rate installment loan secured by your house, repaid in equal monthly installments over a set term.
Payment = P × i ÷ (1 − (1 + i)−n)
- P — the amount borrowed against your equity
- i — the monthly rate (annual rate ÷ 1,200)
- n — the number of monthly payments
Total interest = payment × n − P. Because the loan is secured, the rate is often below an unsecured personal loan, but the home stands as collateral.
Rates and terms vary by lender, credit profile, and loan-to-value, so enter your own assumption.