Free Tool
Home Equity & HELOC Calculator
See your equity position, how much you could access through a HELOC or cash-out refinance, and what the monthly payment would look like.
Tip: Check your home value on Zillow, Redfin, or your county tax assessor.
Your Equity
$200,000
40.0% equity · 60.0% LTV
HELOC at 80% LTV
$100,000
Available to draw
IO Monthly Payment
$583/mo
at 7% interest-only
HELOC at 90% LTV
$150,000
Higher LTV = higher rate
IO Monthly Payment
$875/mo
at 7% interest-only
Cash-Out Refinance Option
New Loan (80% LTV)
$400,000
Pay Off Current
$300,000
Cash to You
$100,000
Cash-out refi replaces your current mortgage with a new, larger one. You receive the difference as cash. Closing costs typically 2-3%.
What could you do with $100,000?
- ◆ Down payment on a $500,000 investment property (20% down)
- ◆ Full STR furnishing + renovation budget
- ◆ Home improvements that increase value
- ◆ Debt consolidation at a potentially lower rate
- ◆ Emergency reserves or investment capital
This is how we funded the BCR down payment — HELOC on our primary, then cash-out refi when the property appreciates.
This calculator provides estimates only — not a commitment to lend. Actual HELOC terms, rates, and availability vary by lender, credit, and property. Consult a licensed loan officer for personalized options.
Reba Sledd Coleman · NMLS #1079122 · Dominion Capital Mortgage Inc. · NMLS #270930 · Equal Housing Opportunity
Powered by Diamond Elevation · diamondelevation.com