HELOC Calculator

You can typically access up to 85% of your homes equity in some cases you can go up to 90% at a higher interest rate. To figure out the maximum you can withdraw subtract your remaining mortgage balance from the current value of your home then multiply that number by .80. Example $400,000 (current value) x .8999 - $180,000 (remaining loan balance) = $179,960 available equity.
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This is only an estimation, your loan officer will review your actual interest rate with you once we have received all necessary documentation.
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The interest only or Draw Period is typically 10 years.
Once the draw period ends, the repayment period begins. This period is typically 10 years. During the repayment period your payments will include both principal and interest, meaning they will be higher than the interest-only payments.

Line of Credit Information

Loan Amount
$0.00
Draw Period Payment
$0.00
Repayment Period Payment
$0.00
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This HELOC calculator is intended for informational purposes only and does not constitute a loan offer or approval. Estimates are based on user inputs and typical lending guidelines, which may vary. Actual loan limits and terms depend on property appraisal, credit history, and lender criteria. Please consult one of our licensed mortgage professional for personalized advice.

Unlock Your Home’s Equity with Salute Mortgage’s HELOC Calculator

Wondering how much equity you can access from your home? Salute Mortgage’s Home Equity Line of Credit (HELOC) Calculator helps you estimate your available borrowing power based on your home’s value and your current mortgage balance. Whether you’re planning renovations, consolidating debt, or covering major expenses, a HELOC can be a flexible and cost-effective solution.

What Is a HELOC?

A HELOC, or Home Equity Line of Credit, is a revolving line of credit secured by the equity in your home. It allows you to borrow against that equity as needed—similar to a credit card—but with much lower interest rates.

Unlike a cash-out refinance or personal loan, a HELOC gives you access to funds on-demand, with the ability to withdraw, repay, and reuse as needed during the draw period.

How the HELOC Calculator Works

✅ Step 1: Enter Your Property Details

  • Estimated Current Home Value
  • Current Mortgage Balance
  • Desired Loan-to-Value (LTV) Ratio

✅ Step 2: View Your HELOC Estimate

The calculator shows:

  • Estimated Available Equity
  • Maximum Loan Amount
  • Total Combined Loan-to-Value (CLTV)

Example: HELOC Estimate Breakdown

If your home is worth $400,000 and your current mortgage balance is $250,000:

  • With a max CLTV of 85%, you may qualify to borrow up to $90,000 via a HELOC.
  • That’s $340,000 total borrowing limit – $250,000 existing mortgage = $90,000 available credit.

Why Homeowners Choose HELOCs

🏡 Low Interest Rates vs. Credit Cards or Personal Loans
💳 Access Cash Only When You Need It
🛠️ Perfect for Home Improvements or Renovations
💰 Debt Consolidation Tool
📈 Tap Equity Without Refinancing Your First Mortgage

Salute Mortgage HELOC Advantages

✅ Competitive Rates and Flexible Terms
✅ Quick Equity Access for Homeowners
✅ Nationwide HELOC Solutions
✅ Fixed-Rate and Interest-Only Options Available
✅ Expert Guidance from Application to Funding

From application to closing, our team ensures a seamless, transparent process to help you maximize your home’s potential.

Speak with a Salute Mortgage advisor for a personalized plan and same-day pre-qualification.

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