Calculate your monthly payment, total interest, and CLTV ratio for a fixed-rate home equity loan.
Enter the loan amount, interest rate, and term to see your estimated monthly payment.
A home equity loan calculator helps you estimate the monthly cost of borrowing against your home's equity. Unlike a HELOC (Home Equity Line of Credit), a home equity loan typically offers a fixed interest rate and a fixed repayment term, making it easier to budget for expenses like home renovations or debt consolidation.
With a standard home equity loan, you pay the same amount every month, which includes both principal and interest.
You receive the entire loan amount upfront, making it ideal for large, one-time expenses.
The loan is secured by your home, which often allows for lower interest rates compared to personal loans or credit cards.
Simply enter the total amount you wish to borrow, your expected interest rate, and the loan term (in years). Click "Calculate Payment" to see your monthly obligation. This home equity loan calculator free tool provides an instant estimate to help you plan your budget.
We use the standard amortization formula to calculate home equity loan payment amounts. This ensures that your payments are spread evenly over the loan term, covering both the interest and the principal repayment.
Yes. You can enter any term length you prefer. For a 10-year loan, simply enter "10" in the Loan Term field. This flexibility makes it a perfect 10 year home equity loan payment calculator, or even for 15 or 20-year terms.
Yes, our home equity loan repayment calculator displays the first 12 months of your amortization schedule, showing you exactly how much of each payment goes toward interest versus principal.
Interest rates significantly impact your monthly payment. By using this home equity loan rates calculator feature (changing the interest rate input), you can see how different rates affect your monthly costs and total interest paid.
Cross-checked against authoritative formulas (IRS, NIST, ACM) and updated for 2025/2026 tax years and rates.
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Each calculator includes the formula, plain-English explanation, and FAQs so you understand the result.
Estimates only. Calculator results are for educational and planning purposes — not professional advice. For binding decisions on taxes, investments, health, or legal matters, consult a qualified professional.
FAQ
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A home equity loan calculator is a free tool that estimates the monthly payment, total interest, and total cost of borrowing against your home's equity. Our home equity loan calculator uses your property value, mortgage balance, and loan-to-value limit to size the loan. The home equity loan calculator also shows the combined loan-to-value ratio and amortization schedule.
How it works
Our home equity loan calculator lets you find the monthly payment and total interest on a fixed-rate home equity loan, in four steps.
Type the lump sum you want to borrow. The calculator will compare it to your available home equity and warn if it exceeds typical lender limits.
Type the annual percentage rate quoted by the lender. Home equity loan rates are usually fixed and slightly higher than first mortgage rates.
Type the repayment period in years. 5-15 year terms are common, with 10 years being a typical balance of payment and total interest.
The result shows your monthly payment, total interest paid over the life of the loan, and total amount repaid. Compare this to a HELOC if you are deciding between the two.
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