Home Equity Loan Calculator
Estimate a fixed-rate home equity loan payment and total interest for a lump-sum second mortgage. Compare the result with a variable-rate HELOC before borrowing.
- Formula
- Shown below
- Data
- Stays private
- Result
- Updates live
Written by the ToolGrym Editorial Team
Last reviewed:
Calculation workspace
Enter your numbers
No submit button — results update as you type.
Estimated monthly payment
$836.44
Principal, interest, and program insurance fee
- Base loan amount
- $100,000
- Upfront fee financed
- $0
- Monthly insurance/annual fee
- $0
Fixed second-mortgage cost
$836.44
Over 20 years at a fixed rate
- Total interest
- $100,746
This is an educational estimate, not an eligibility decision or Loan Estimate. Program rules, county limits, fees, caps, and lender overlays vary. Confirm the exact terms with an approved lender.
Compare the fixed payment with a HELOC and read how home-equity borrowing works before signing.
Frequently asked questions
- Is a home equity loan fixed rate?
- This calculator models a fixed rate. The lender’s note controls whether the actual product is fixed or variable.
- Does it include my first mortgage?
- No. It estimates the second loan by itself. Add both payments to understand the household obligation.
- What determines how much I can borrow?
- Lenders consider value, existing liens, combined loan-to-value, income, credit, and underwriting rules.
- Is the loan secured by my home?
- Yes. Missed payments can create foreclosure risk, so preserve a payment buffer.
People also calculate
- Down Payment & PMI CalculatorEstimate cash down, starting loan-to-value, monthly PMI, total PMI, and when scheduled mortgage principal may reach 80% LTV.
- FHA Loan CalculatorEstimate an FHA mortgage payment with upfront MIP, annual MIP, down payment, rate, and term. Adjust fees to match your Loan Estimate.
- USDA Loan CalculatorEstimate a USDA guaranteed-loan payment with the upfront guarantee fee, annual fee, rate, term, and optional down payment.
Continue learning
- Is a 20% Down Payment Really Necessary?Compare cash down, monthly payment, PMI, liquidity, and loan-to-value to understand the real trade-off behind the 20% rule.
- FHA vs. Conventional Loan: Compare the Full CostCompare FHA and conventional loans by down payment, mortgage insurance, credit, cash to close, and the break-even point for refinancing.
- How FHA Mortgage Insurance WorksUnderstand FHA upfront MIP, annual MIP, loan-to-value, cancellation rules, and why the exact premium depends on the loan details.
Written by
The ToolGrym editorial team builds and maintains every calculator on this site. Each tool’s formulas are implemented as tested code and verified against authoritative sources such as the CFPB, Federal Reserve, IRS, and BLS.