What is an Equity Line of Credit Calculator?
This home equity line of credit calculator is an equity loan calculator that you can use to determine the amount of an Equity Loan that you may qualify for based on the amount of equity you have in your Home.
Who needs an Equity Line of Credit Calculator?
Anyone who has enough home equity to secure a loan that works a revolving credit account. This equity loan calculator will help you find the maximum amount you are likely allowed to borrow based on the amount of home equity that you have now. Equity loans are often used for home repairs or improvements.
How does the Equity Line of Credit Calculator work?
Enter your home value, loan amount, interest rate and terms. The remaining amount that you owe on the home is subtracted from the value of the home. With this formula, you can easily compare the amount you will be able to borrow as your home value increases or your loan amount decreases. You will notice in your results that there will usually be several possible home equity lines that you may qualify for.
What other financial tools are available here?
In addition to the Debt to Income Ratio Calculator above, we have created a list of helpful financial tools to assist our users in journey toward successful money management. These calculators include:
Mortgage Calculator - also known as a Mortgage Payment Calculator is a financial tool used to calculate the Estimated Mortgage Payment of a Home Loan based on Home Value, Loan Amount, Interest Rate and other variables.
Debt to Income Ratio Calculator - or Debt Calculator is a financial tool used to calculate your Debt Ratio amount using a Debt vs. Income formula.
Extra Payments Calculator - used to determine the amount of principal you save on the life of your loan based on the amount of Extra Mortgage Payments you make.
How Much Can I Afford Calculator - a tool used by people who would like to know How Much House or How Much Mortgage they can afford. Your input into the Home Calculator helps us easily determine How Much House you can afford.
Mortgage Balance Calculator - Find your Mortgage Balance quickly with our Mortgage Balance Calculator. Input your information to display Mortgage Loan Balance.
Refinance Calculator - display a clear comparison between your current loan and a Mortgage Refinance Loan based on your input.