Unsure about the amount of home equity line of credit you are qualified to receive? This calculator evaluates the line of credit based on the percentage of the value on a home. Be sure to include any outstanding mortgages, which include first mortgages, second mortgages and any other debt obtained on your home.
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Current appraised value of your home.
Total amount of all outstanding home loan balances, including your first mortgage, second mortgage(s), and any other debt that is secured by your home.
Loan-to-value ratio limit is the maximum loan-to-value ratio (LTV) your lender will allow. LTV is the percentage of your home's appraised value that is borrowed, including all outstanding mortgages and home equity loans and lines secured by your home. For example, a lender's 80% LTV limit for a home appraised at $400,000 would mean a HELOC applicant could have no more than $320,000 in total outstanding home loan balances. Remember, the $320,000 limit would include all existing loans secured by your home plus your new HELOC.