Property Details
Loan Details
Good credit: rates typically 6.5%-8.5%
Equity Overview
HELOC vs Home Equity Loan
Home Equity Loan
HELOC
Debt-to-Income Ratio
Tax Deduction Estimate
Annual Interest Deduction
Under current tax law, interest on home equity loans may be deductible if the loan is used to buy, build, or substantially improve the home securing the loan (up to $750,000 total mortgage debt).
* Consult a tax professional. Deductibility depends on how funds are used. Assumes qualified home improvement use.
Further reading
Monthly payment by loan amount and rate
A fixed-rate home equity loan over 15 years, calculated by the tool on this page. Read across your row to see what a single point of rate costs you every month for fifteen years — it is usually larger than people expect, and it is the number worth negotiating. A HELOC behaves differently because the rate moves; use the comparison above for that. Your available equity and CLTV depend on your home value and current mortgage balance, which you can enter yourself.
| Loan amount | 6.5% | 7.5% | 8.5% | 9.5% |
|---|---|---|---|---|
| $20,000 | $174 | $185 | $197 | $209 |
| $30,000 | $261 | $278 | $295 | $313 |
| $40,000 | $348 | $371 | $394 | $418 |
| $50,000 | $436 | $464 | $492 | $522 |
| $60,000 | $523 | $556 | $591 | $627 |
| $70,000 | $610 | $649 | $689 | $731 |
| $80,000 | $697 | $742 | $788 | $835 |
| $90,000 | $784 | $834 | $886 | $940 |
| $100,000 | $871 | $927 | $985 | $1,044 |
| $110,000 | $958 | $1,020 | $1,083 | $1,149 |
| $120,000 | $1,045 | $1,112 | $1,182 | $1,253 |
| $130,000 | $1,132 | $1,205 | $1,280 | $1,357 |
| $140,000 | $1,220 | $1,298 | $1,379 | $1,462 |
| $150,000 | $1,307 | $1,391 | $1,477 | $1,566 |
| $200,000 | $1,742 | $1,854 | $1,969 | $2,088 |
| $250,000 | $2,178 | $2,318 | $2,462 | $2,611 |
표의 모든 값은 이 페이지의 계산기가 직접 계산한 결과입니다 · 15-year fixed · payment only, excludes closing costs and insurance