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Calculator · For Homeowners & Buyers

Home equity and HELOC available

Estimate the home equity line of credit you might be able to set up. Then talk to us about your real options.

Your numbers

Standard limits: 65% of value for a HELOC, 80% combined.

Optional. Any home equity line or other secured line already in place.
Estimated HELOC available
$0
Home equity$0
65% of value$0
80% of value$0
Less mortgage balance$0
Less existing secured line$0
Your HELOC is limited to the lower of 65 percent of value, or 80 percent of value minus what you owe.
Talk to us

For illustration only and not an offer of financing or a rate quote. Lender limits and qualification vary, a home equity line of credit requires approval and the standard stress test, and the amounts shown are estimates. Speak with us for figures specific to you. TMG HarbourTown Mortgage Inc., Licence #3000145.

What these numbers mean

Plain-language definitions and the typical ranges, so you can play with the inputs with confidence.

Home value
The current market value of your home. Both caps below are a percentage of this figure, so the value drives everything.
Typical: a current appraised or estimated market value
Mortgage balance
What you still owe on your mortgage. It is subtracted from the combined limit, since your mortgage and a line of credit together cannot exceed 80 percent of value.
Typical: your remaining principal today
Existing HELOC or secured line balance
Any home equity line or other secured line already registered against the home. It counts against both caps, which is easy to overlook.
Typical: $0 if you have no line in place yet
65 percent of value (the HELOC cap)
A revolving line of credit portion is capped at 65 percent of the home value on its own.
Typical: a HELOC portion is capped at 65 percent of value
80 percent combined cap
Your mortgage plus any line of credit together cannot exceed 80 percent of value. For most homeowners with a mortgage, this is the limit that actually binds, not the 65 percent line.
Typical: mortgage plus HELOC combined is capped at 80 percent of value
Home equity
Value minus what you owe. It is the equity you hold, but it is not the same as what you can borrow, since the 65 and 80 percent caps apply first.
Typical: value less mortgage and any secured lines
Estimated HELOC available
The lower of the 65 percent line cap and the 80 percent combined cap, after subtracting what you owe. A line of credit still requires approval and the standard stress test.
Typical: the lower of 65 percent of value, or 80 percent of value minus balances
These are general ranges, not your numbers. The right figure depends on your situation, the property, and the lender. Talk to us and we will pin it down.

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