MyRefiNest · National Low-Credit Refinance Research
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Home Equity Calculator

Calculate your home equity position and see how much you could access through refinancing.

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What This Calculator Does (In Layman's Terms)

Home equity is the part of your home’s value that is not already owed to lenders. This calculator estimates how much of that value you might be able to borrow without assuming you can borrow every dollar of equity.

A home equity loan usually pays a lump sum; a home equity line of credit (HELOC) lets you draw funds up to a limit. Approval also depends on income, credit and the lender’s appraisal. Your home secures the debt, so missed payments can put it at risk.

What Every Term & Number Means in Plain English

Home value

An estimate of what the home could sell for today, not necessarily its original price.

Mortgage balance

What remains owed on the first mortgage.

Other liens

Other debts secured by the same home, including an existing second loan.

Equity

Home value minus all debts secured by it.

CLTV

Combined loan-to-value: all home-backed debt divided by home value. An 80% limit leaves at least 20% unborrowed.

Available borrowing

The lender’s allowed total debt minus existing secured balances. This is an estimate, not approval or free money.

Real-World Example Scenario

  1. A home worth $400,000 with a $250,000 mortgage has $150,000 equity if there are no other liens.
  2. At an illustrative 80% CLTV limit, maximum total secured debt is $400,000 × 80% = $320,000.
  3. Subtract the existing $250,000 mortgage: estimated new borrowing capacity is $70,000 before fees. A lower appraisal or another lien reduces that amount.

Loan Program Comparison: 2026 Benchmarks

Home Equity & HELOC Calculator — Use the note rate for amortization, then add taxes, insurance and mortgage insurance. Stress-test assumptions and share only numeric scenario inputs, never personal identifiers.

Historical 2025 one-unit comparison: conforming $806,500; FHA floor $524,225. County and unit-count limits can differ.

Loan programDown payment / equity2026 one-unit baselineCosts and page-specific comparison
Conventional3%–5% subject to eligibility$832,750PMI generally below 20% down
FHA3.5% at 580+; 10% at 500–579$541,287 floor1.75% upfront MIP; 0.55% annual for >95% LTV, base loan ≤$726,200, term >15 years
VA0% for eligible borrowersNo VA limit with full entitlementNo monthly PMI; funding fee unless exempt
USDA0% for eligible borrowersIncome, address and repayment eligibilityGuarantee and annual fees; confirm current schedule
JumboLender-specific cash and reservesAbove applicable conforming limitLender-specific pricing and insurance
Home Equity / RefinanceEquity and underwriting dependentProperty and lender dependentCompare closing costs, term and break-even

Sources: FHFA limits; HUD FHA limits.

How we calculate payments

Monthly principal and interest use P × r / (1 − (1 + r)−n), where P is the loan amount, r is the monthly note rate and n is the number of payments. At zero interest, use P / n. Add property taxes, homeowners insurance and applicable mortgage insurance to estimate the full payment. Use parcel-specific taxes and an insurance quote when comparing homes.

APR includes applicable finance charges; use the note rate, not APR, for amortization. Compare Loan Estimates with the CFPB guide.