Calculate a Home Equity Loan Payment

Loan Information

Loan Amount
Monthly Payment

Repayment of a home equity loan requires that the borrower makes a monthly payment to the lender. That monthly payment includes both repayment of the loan principal, plus monthly interest on the outstanding balance. Loan payments are amortized so that the monthly payment remains the same throughout the repayment period, but during that time, the percentage of the amount that goes towards principal will increase as the outstanding mortgage balance decreases.

You can borrow up to 95% of your home’s value (maximum Home Equity Loan of $250,000), which includes any balance owned on an existing first mortgage loan. The maximum loan-to-value varies based on credit tier, combined LTV and loan amount requested.