Line of Credit Loan Calculator for Comparing Lender LTV Credit Limits

Line of Credit Loan Calculator Sign

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.
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Line of Credit Loan Calculator

Calculate line of credit you would qualify for and compare lender credit limits for up to four different loan to value (LTV) ratios.

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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 online 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.

Help and Tools

Learn

What HELOC is, how it works, and how its limit is determined.

What is a HELOC?

A Home Equity Line of Credit (HELOC) is an open-ended loan taken out against the equity in your home. The size of the HELOC you qualify for depends on several factors, including:

  • Your credit rating.
  • The amount of equity you have in your home.
  • The percentage of your home's value the lender is willing to lend.

The percentage of your home's value the lender is willing to lend out is often referred to as the lender's Loan to Value (LTV) ratio.

How is Your Line of Credit Limit Determined?

To calculate your HELOC, you first need to find out what the lender's LTV ratio is.

You then multiply the value of your home by the LTV ratio -- which gives you the maximum loan amount on your home.

Next, total up all mortgages and liens against your home and subtract that total from the lender's maximum loan amount. The result is the HELOC you may qualify for.

How Does a HELOC Work?

Typically, once you take out a HELOC, you will be required to make minimum monthly payments on the borrowed funds, equal to the amount of interest being charged per month. Any amounts you pay over and above the minimum payment will serve to lower the principal balance owed.

Most equity line of credit loans are set up to close after ten years, meaning the lender will expect all borrowed funds to be paid back at that time.

If you would like to calculate your home's current LTV ratio, please visit the Loan to Value Calculator.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.