Home Equity Loan Amount and Payment Calculator
Find out how much of your home's equity you could tap into with a home equity loan or line of credit. Then, calculate what your loan payments could be.
Calculate Your Estimated Rate and Loan Payment
The calculator uses assumptions you provide, including credit score, to estimate your rate and monthly payment, helping you compare different loan options.
Rates displayed are effective as of today's date. Rates are subject to change. Rates are variable and are based on creditworthiness and other factors that are not included in your example. All loans subject to program requirements and approval. To be eligible for Military Choice loan, at least one borrower must be Active Duty, Reservist, or a Veteran. All Choice and VA loans include a funding fee in the loan amount.
† Home equity lines of credit (HELOC) DisclosureFootnote [1]
How can I figure out my max loan-to-value (LTV) ratio?
A common rule of thumb is to maintain at least 20% equity in your home after taking out a loan or line of credit. In other words, the amount you owe on your mortgage plus the amount you would owe on a home equity loan or home equity line of credit ideally shouldn’t exceed 80% of the home’s value (the “loan-to-value ratio,” or LTV). To calculate your LTV ratio, divide your current loan balance by the appraised value of your home and multiply the answer by 100.
Additional Resources
What is home equity?
What is home equity? Learn the basics here, and find out if a Navy Federal home equity loan can help you today.
How to apply for a home equity loan.
Ready for a home equity loan, but not sure how to start? Our application process will guide you step by step, helping you to apply for a home equity loan.
Learn more about applying for a home equity loan
Disclosures
Home equity lines of credit (HELOC) are variable-rate lines. Rates as low as 7.000% APR and 8.000% for interest-only assume a 750 FICO. Rates are based on credit history, loan-to-value (LTV)/combined loan-to-value (CLTV)/high credit loan-to-value (HLTV) ratio, loan amount, and occupancy, so your rate may differ. A HELOC has a minimum APR of 3.99% and a maximum APR of 18%. Members who choose to proceed with an interest-only HELOC may experience significant monthly payment increases when the line of credit enters the repayment phase. Navy Federal will pay for all closing costs on HELOC applications. Covered closing costs paid to third parties include settlement fees, credit reports, flood determinations, property valuations (including appraisals, if required), title searches, lender’s title insurance, recording, and government charges. The member is responsible for prepaid interest and escrow payments for first-lien HELOCs. Members must carry homeowners’ insurance on the property that secures the HELOC. For loan amounts up to $250,000, closing costs typically range between $300 and $2,000. Applications for a HELOC include a request for a Home Equity Credit Card. All loans subject to approval. Offer is subject to change or cancellation without notice. Rates are subject to change. HELOC loans are not available in Texas.
↵Calculator results are estimates based on information you provide and Navy Federal does not guarantee your ability to receive these terms.
This calculator is made available to you as a self-help tool for your independent use and is not intended to provide investment advice. We cannot and do not guarantee its accuracy or its applicability to your individual circumstances. All examples are hypothetical and are for illustrative purposes. This content is intended to provide general information and shouldn't be considered legal, tax, or financial advice. It's always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.
Use of this calculator is neither a request for credit nor a loan commitment. The terms you input into this calculator may not be terms that are available on any Navy Federal loan. All loans are subject to credit approval.
Depending on the loan type, Navy Federal rates can be based on a number of factors not considered in this calculator, including creditworthiness, loan term, loan-to-value (LTV), occupancy, collateral type, and loan purpose, so your rate and terms may differ. Additionally, certain Navy Federal loans require payment or the proof of payment of certain items not accounted for in this calculator (e.g., taxes, insurance, closing costs, etc.). As a result, this calculator may not account for all of the costs that might be incurred in connection with a Navy Federal loan and that may be added to a monthly payment or be paid independently of a loan payment.
This calculator may not account for Navy Federal special promotions or discounts that may be made available to borrowers based on certain criteria.
Additional factors for home equity lines of credit: Navy Federal’s home equity line of credit is a variable-rate, open-end credit product that requires minimum monthly payment amounts as provided for in the line of credit agreement. This calculator does not calculate a payment amount in a manner consistent with Navy Federal’s home equity line of credit agreement.
This content is intended to provide general information and should not be considered legal, tax or financial advice. It is always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.