Calculate Home Equity Loans Easily Save Thousands Now

Unlock the potential of your home's value and discover how easily calculating home equity loans can save you thousands, while you browse options and explore the best deals available today.

Understanding Home Equity Loans

Home equity loans, often referred to as second mortgages, allow you to borrow against the equity of your home. This form of credit is ideal for homeowners looking to fund large expenses, such as home renovations, education, or debt consolidation. By tapping into your home's equity, you can access a lump sum of money at a relatively low interest rate compared to other types of loans.

How to Calculate Your Home Equity

Calculating your home equity is straightforward. Simply subtract the outstanding balance of your mortgage from your home's current market value. For example, if your home is valued at $300,000 and you owe $150,000 on your mortgage, your home equity would be $150,000. This equity is what you can potentially borrow against, with most lenders allowing you to borrow up to 85% of your home's equity¹.