🏠💰 Home Equity Loan Calculator
Calculate fixed-rate home equity loan payments and total interest costs for lump sum borrowing against your home's equity
🏠 Mortgage Calculator
Calculate your monthly mortgage payment including principal, interest, taxes, and insurance
🏠 Mortgage Tips
- • A 20% down payment helps you avoid PMI
- • Consider 15-year loans for lower total interest costs
- • Shop around with multiple lenders for the best rates
- • Factor in closing costs (typically 2-5% of loan amount)
- • Get pre-approved to strengthen your offer
- • Consider property taxes and insurance in your budget
How to Use
1. Enter your home's current market value
2. Input your existing mortgage balance
3. Set the desired loan amount (up to 80% LTV)
4. Enter the fixed interest rate and loan term
5. Calculate fixed monthly payments
6. Review total interest cost and payoff schedule
Features
✓ Fixed monthly payment calculation
✓ Available equity assessment
✓ Loan-to-value ratio analysis
✓ Complete amortization schedule
✓ Total interest cost projection
✓ Comparison with HELOC options