Post Office Fd Interest Rate Calculator

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HELOC Calculator

Estimate your available Home Equity Line of Credit

Usually 80% to 90%

Results

Total Max Equity (at Limit): $0
Estimated HELOC Limit: $0

How to Use the HELOC Calculator

A Home Equity Line of Credit (HELOC) allows you to borrow against the value of your home. Unlike a traditional home equity loan, a HELOC works like a credit card, where you have a revolving balance that you can tap into as needed. This calculator helps you determine how much credit a lender might extend to you based on your home's current value and your existing debt.

Understanding the Variables

  • Current Home Value: The estimated market value of your property today.
  • CLTV (Combined Loan-to-Value) Limit: Lenders typically allow you to borrow up to a certain percentage of your home's value, combining all mortgages. Most lenders cap this at 80% to 85%, though some go higher.
  • Mortgage Balance: The total amount you currently owe on your primary mortgage and any other existing liens on the property.

Example Calculation

Suppose your home is worth $400,000. You owe $250,000 on your mortgage, and the lender allows an 85% CLTV.

  1. Calculate Max Loan Amount: $400,000 × 0.85 = $340,000.
  2. Subtract Mortgage: $340,000 – $250,000 = $90,000.
  3. Your Estimated HELOC Limit: $90,000.

Factors That Affect Your HELOC

While this calculator provides a mathematical estimate, lenders will also evaluate your Credit Score, Debt-to-Income (DTI) Ratio, and Employment History. A higher credit score often unlocks lower interest rates and higher CLTV limits.

function calculateHELOC() { var homeValue = parseFloat(document.getElementById('homeValue').value); var cltvLimit = parseFloat(document.getElementById('cltvLimit').value); var currentMortgage = parseFloat(document.getElementById('currentMortgage').value); // Validation if (isNaN(homeValue) || isNaN(cltvLimit) || isNaN(currentMortgage)) { alert("Please enter valid numbers in all fields."); return; } if (homeValue <= 0 || cltvLimit 0) { resultDisplay.innerText = formatter.format(helocLimit); resultDisplay.style.color = '#27ae60'; messageDisplay.innerText = "Based on an " + cltvLimit + "% CLTV limit, you have approximately " + formatter.format(helocLimit) + " available in home equity."; } else { resultDisplay.innerText = "$0"; resultDisplay.style.color = '#c0392b'; messageDisplay.innerText = "Currently, your mortgage balance exceeds the lending limit for this CLTV percentage. You may need more equity or a higher CLTV limit to qualify for a HELOC."; } // Smooth scroll to result on mobile document.getElementById('helocResultWrapper').scrollIntoView({ behavior: 'smooth', block: 'nearest' }); }

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