#heloc-calculator-container h2 { color: #2c3e50; text-align: center; margin-bottom: 25px; font-size: 28px; }
.input-group { margin-bottom: 20px; }
.input-group label { display: block; margin-bottom: 8px; font-weight: 600; color: #34495e; font-size: 15px; }
.input-group input { width: 100%; padding: 12px; border: 2px solid #ddd; border-radius: 6px; font-size: 16px; box-sizing: border-box; transition: border-color 0.3s; }
.input-group input:focus { border-color: #3498db; outline: none; }
.calc-btn { width: 100%; background-color: #27ae60; color: white; padding: 15px; border: none; border-radius: 6px; font-size: 18px; font-weight: bold; cursor: pointer; transition: background-color 0.3s; margin-top: 10px; }
.calc-btn:hover { background-color: #219150; }
#heloc-result { margin-top: 25px; padding: 20px; border-radius: 8px; background-color: #f9f9f9; display: none; border-left: 5px solid #27ae60; }
.result-item { display: flex; justify-content: space-between; margin-bottom: 10px; font-size: 16px; border-bottom: 1px solid #eee; padding-bottom: 5px; }
.result-item strong { color: #2c3e50; }
.result-item span { color: #27ae60; font-weight: bold; }
.highlight-box { background-color: #e8f5e9; padding: 15px; border-radius: 6px; text-align: center; margin-top: 15px; }
.highlight-box div { font-size: 24px; color: #27ae60; font-weight: 800; margin-top: 5px; }
.error-msg { color: #e74c3c; font-weight: bold; text-align: center; margin-top: 10px; display: none; }
@media (max-width: 600px) { #heloc-calculator-container { padding: 15px; } }
function calculateHELOC() {
var homeValue = parseFloat(document.getElementById('homeValue').value);
var mortgageBalance = parseFloat(document.getElementById('mortgageBalance').value);
var cltvLimit = parseFloat(document.getElementById('cltvLimit').value);
var errorDiv = document.getElementById('error-msg');
var resultDiv = document.getElementById('heloc-result');
if (isNaN(homeValue) || isNaN(mortgageBalance) || isNaN(cltvLimit) || homeValue <= 0 || mortgageBalance < 0 || cltvLimit <= 0) {
errorDiv.style.display = 'block';
resultDiv.style.display = 'none';
return;
}
errorDiv.style.display = 'none';
// Logic: HELOC Limit = (Home Value * CLTV Limit) – Current Mortgage
var cltvDecimal = cltvLimit / 100;
var maxAllowableDebt = homeValue * cltvDecimal;
var helocLimit = maxAllowableDebt – mortgageBalance;
var totalEquity = homeValue – mortgageBalance;
// Ensure we don't show negative credit limits
if (helocLimit < 0) {
helocLimit = 0;
}
document.getElementById('resTotalEquity').innerText = '$' + totalEquity.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resMaxDebt').innerText = '$' + maxAllowableDebt.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resCltvPct').innerText = cltvLimit;
document.getElementById('resHelocLimit').innerText = '$' + helocLimit.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
resultDiv.style.display = 'block';
}
HELOC Credit Line Calculator
Please enter valid positive numbers for all fields.
Total Equity in Home:
$0
Max Allowable Debt (at 0% CLTV):
$0
Your Estimated HELOC Limit:
$0
How Does a HELOC Calculator Work?
A Home Equity Line of Credit (HELOC) is a revolving line of credit that allows homeowners to borrow against the equity they have built in their property. Unlike a standard home equity loan, a HELOC works more like a credit card: you have a maximum limit, and you can draw funds as needed, pay them back, and draw them again.
This calculator uses three primary factors to determine your potential credit line:
- Market Value: The current appraised value of your home in the real estate market.
- Mortgage Balance: The remaining amount you owe on your primary mortgage.
- CLTV Ratio: Lenders usually restrict total debt (Mortgage + HELOC) to 80% to 90% of the home's value.
The HELOC Calculation Formula
The math behind your credit limit is straightforward:
HELOC Limit = (Home Value × Max CLTV %) – Mortgage Balance
Real-World Example
Let's say your home is currently worth $450,000 and you still owe $250,000 on your mortgage. If your lender allows an 85% CLTV:
- Calculate Max Total Debt: $450,000 × 0.85 = $382,500.
- Subtract Current Debt: $382,500 – $250,000 = $132,500.
- Result: Your available HELOC credit line would be $132,500.
Why Use a HELOC?
HELOCs are popular for major expenses because they often offer lower interest rates than personal loans or credit cards. Common uses include:
- Home Renovations: Increasing the value of the asset securing the loan.
- Debt Consolidation: Paying off high-interest credit card debt.
- Emergency Fund: Having a safety net available that you only pay for if you use it.
- Education Costs: Funding tuition with flexible withdrawal options.
Important Considerations
Keep in mind that while a HELOC offers flexibility, your home serves as collateral. Failure to make payments could lead to foreclosure. Additionally, most HELOCs have variable interest rates, meaning your monthly payments could increase if market interest rates rise during your draw period.