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Line of Credit Loan Calculator for Comparing Lender LTV Credit Limits

Calculator Preferences
Line of Credit Loan Calculator Sign
Line of Credit Loan Calculator

This calculator will calculate and compare the equity line of credit limits, interest-only payment amounts, and the 10-year interest costs for up to four different lender loan-to-value (LTV) ratios at one time. The Learn tab includes:

  • What is a HELOC?
  • How is your line of credit limit determined?
  • How does a HELOC work?
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Property val:Property value:Appraised value of property:Appraised value of property:

Appraised value of property:

Enter the appraised value of your home. Enter as a dollar amount, but without the dollar sign and any commas.

If you have not had your house appraised, research what homes similar to yours are selling for in your area. That should give you a good estimate of the appraised value.

Total owed:Total of mortgages:Total owed against property:Total of mortgages owed against property:

Total of mortgages owed against property:

Enter the combined total of all mortgages and liens against your property. Enter as a dollar amount, but without the dollar sign and any commas.

LOC % rate:LOC percent rate:Line of credit interest rate:Line of credit loan interest rate:

Line of credit loan interest rate:

Enter the expected line of credit loan interest rate. Enter as a percentage but without the percent sign (for .085 or 8.5%, enter 8.5).

LTV ratio #1:

LTV ratio #1:

Enter a unique loan to value ratio for comparing against other loan to value ratios. Enter as a percentage but without the percent sign (for .90 or 90%, enter 90).

LTV ratio #2:

LTV ratio #2:

Enter a second unique loan to value ratio for comparing against other loan to value ratios. Enter as a percentage but without the percent sign (for .90 or 90%, enter 90).

LTV ratio #3:

LTV ratio #3:

Enter a third unique loan to value ratio for comparing against other loan to value ratios. Enter as a percentage but without the percent sign (for .90 or 90%, enter 90).

LTV ratio #4:

LTV ratio #4:

Enter a fourth unique loan to value ratio for comparing against other loan to value ratios. Enter as a percentage but without the percent sign (for .90 or 90%, enter 90).

Comparative Results

Comparative Results:

The chart below will compare the maximum loan amount, the credit limit, the interest only payment, and the interest cost of all LTV ratios entered in the section above this one.

Tap the text links in the "Compare" column for an explanation of each row.

Tap the links for an explanation of each row.
K = Thousands of Dollars

K = Thousands of Dollars
Compare%%%%
Max loan:

Max loan row:

This row contains the maximum loan amount for each entered loan to value ratio.

Less loans:

Less loans row:

This row contains the total loans (mortgages and liens) against the property, which is the same for all entered loan to value ratios.

Credit limit:

Credit limit row:

This row contains the credit limit for each entered loan to value ratio.

IO pmt:

IO pmt row:

This row contains the monthly interest-only payment for each entered loan to value ratio. Interest-only payments are based on your entered annual interest rate and a 10-year line of credit.

Interest:

Interest row:

This row contains the total of 10-years worth of interest-only payments for each entered loan to value ratio.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

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Tip

About

About the Line of Credit Loan Calculator

This calculator will help you to compare lender credit limits for up to four different loan to value (LTV) ratios.

For each LTV entered, the calculator will show a side-by-side comparison of the following:

  • Credit limit.
  • Interest-only (IO) payment amount.
  • Interest cost of 10-years of IO payments.

If you're not sure what an equity line of credit is, be sure to visit the Learn tab for a brief explanation.

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Instructions

How to use the Line of Credit Loan Calculator

Step #1:

Enter the appraised property value.

Step #2:

Enter total of all outstanding mortgages against the property.

Step #3:

Enter annual line of credit interest rate percentage.

Step #4:

Enter up to 4 LTV ratios to compare.

Step #5:

Tap the "Calculate Comparison" button and scroll down to view the results.

Saving Entries:

If your web browser supports Local Storage, you can save your entries to your web browser so won't have to start over on your next visit. Please note that your saved entries can only be retrieved from the same device and web browser you were using when you stored them. If you would like to access your saved entries from any device I invite you to subscribe to the Ad-Free Member Version.

To save your entries to your web browser, click or tap the Data tab in the Help and Tools section (mobile: top right of the main screen), select "New Data Record" from the drop-down menu, enter a name for the data record, and then tap or click the Save button.

To load previously saved entries, click or tap the Data tab and select the saved data record from the drop-down menu. You can then save any changes to your entries by simply clicking the Save button while the data record is selected.

To clear a named set of saved entries, click or tap the Data tab, select the saved data record from the drop-down menu, and then tap or click the Clear button.

Numbers and Decimals:

Only numeric characters (0-9 and decimal points) may be entered in numeric fields. Non-numeric characters (dollar signs, percent signs, commas, etc.) may cause calculation errors. If the field includes a grid icon, tapping the icon will open a popup keypad which will include only the characters allowed in the field. If your device keypad does not include a decimal point, use this popup keypad to enter decimal numbers where applicable.

Popup Tool Tips:

Tap the info (i) icons for a further explanation of each entry field (you can click [X] or outside of the pop-up tool tips to close them). A summary of these explanations, along with any additional term explanations, can also be found under the Terms tab.

Disclaimer:

Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you do discover an issue with the calculated results, please report the issue using the feedback form located below the calculator.

Scrolling & Shrinking:

In order to scroll the calculator vertically you will need to swipe just outside of the calculator's dark-blue border, or use the window's far right-hand scroll bar, whichever is applicable to your device.

If the top section of the calculator becomes to tall for your viewport, tapping in the "Enter a problem..." field should reset the top section to its original height.

Disclaimer:

The Algebra Calculator is the only calculator on the site that I did not create myself. And since I did not create it, I don't have access to the code for fixing any issues you may be experiencing. So if you are having issues with the calculator, please visit the support page at Mathway.com for assistance.

Glossary

Fields, Terms, and Definitions.

Reset button:

Clicking the "Reset" button will restore the calculator to its default settings.

Pocket Calculator

Calculate any amounts needed to enter into calculator.

 

Data Management

Save and retrieve entries and notes (requires HTML5 compliant web browser).

Calculator Data

Calculator Data:

If you are using the latest version of your web browser software, this feature will allow you to save your calculator entries to your web browser's local storage in between visits. This means the calculator entries can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save data between devices you will need to subscribe to the Ad-Free Member Version.

Save: To save a new set of calculator entries, select "New Data Record" from the dropdown list, enter a nickname for the data record, then click the "Save" button.

Load: To load a previously saved set of calculator entries, simply select the name of the data record from the dropdown list.

Save Changes: To save changes to a set of previously saved calculator entries, be sure the name of the data record is selected, and then click the "Save" button.

Clear: To clear a saved set of entries, be sure the name of the data record is selected, and then click the "Clear" button.

Backup Data
My Notes:
Subscribe to the Cloud level of the Ad-Free Member Version to save your entries and notes to a secure online database, allowing you to access your saved entries from any device or web browser.

Sorry! The Save functions are bonus features reserved for those who allow ads to display on the page.

If you would like to use the Save features, please disable ad blocking for this website and refresh the page. Or you can choose to subscribe to the Ad-Free Member Version of the site.

Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

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