How to Figure Your Borrowing Power
How much can you afford to borrow on a home equity loan? It is really just a matter of estimating your current market value, calculating what portion the lender considers useable equity, and subtracting the current mortgage balance. Enter values for estimated market value and mortgage balance, and let the calculator do the figuring.
This calculator is provided to give you an estimate of the payment and terms of a loan program or product. It is intended as a tool to use for estimating and is not guaranteed to provide the exact results that you may see with a particular product or plan, nor is it guaranteed to provide an accurate rate as required by truth-in-lending regulations. Results obtained with this calculator should be discussed with a qualified professional before any product purchases or loan commitments are made. Any loans made as a result of product inquiries to this institution are subject to credit, property, and/or collateral approval as well as other terms and conditions that may not be mentioned on this page.