How much cash can I take out with a HELOC?

Your maximum depends on your home's value, your property type, and your current first-lien balance. Primary residences typically allow up to 90% combined loan-to-value; second homes and investment properties are lower. The estimate also reserves about 2% for closing costs.

What is the difference between the minimum payment and the monthly P&I payment?

The minimum payment is an interest-only figure during the draw period. The monthly principal-and-interest payment is the fully amortizing figure after the draw period ends, assuming a 30-year repayment.

Does this affect my existing first mortgage?

No. A HELOC or cash-out second sits behind your first mortgage, so you keep your existing first-mortgage rate while accessing equity.

Home Equity / Cash-Out

HELOC Cash Out & Payment Calculator

Grab your most recent mortgage statement. You'll need accurate numbers for the calculator to give you a real picture of your HELOC cash-out and payment options.

Built by Jim Blackburn · NMLS #1072866 · $500M+ closed · 7× Scotsman Guide Top Producer

What type of home is this?

Primary Residence Second Home Investment Rental

Estimated Current Home Value

Use an appraisal, online estimate, or your best guess.

Current 1st lien Loan Balance

Desired Cash Back

Are you thinking about buying another home with your cash out to continue your wealth journey?

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If you convert a departing residence to a rental, Fannie Mae and Freddie Mac rental-income guidelines may let you use that income to qualify for your next home. Ask us how.

Summary

Maximum Cash Back Possible $147,000 Includes 2% estimated closing costs and varies state to state. This is NOT a Loan Estimate. Always obtain an official Loan Estimate from a Licensed Mortgage Originator before making any decisions.

Loan Summary

Desired Loan Amount $102,300 Includes 2% estimated closing costs + $300 estimated notary fee and varies state to state. This is NOT a Loan Estimate.

Estimated Cash Back $100,000

Minimum Monthly Payment $682.00 Your minimum interest-only payment during the draw period (estimated at 8%).

Monthly Payment (P&I) $750.64 Your fixed monthly payment after the draw period, assuming a 30-year repayment at 8%.

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Estimates only — not a commitment to lend. Rate shown is illustrative.

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Important Disclaimer

This calculator is for illustrative purposes only and does not constitute financial, legal, or investment advice. Results are based on general assumptions and may not reflect actual performance or eligibility. This is not a loan estimate or approval. Please consult with a licensed mortgage advisor before making financial decisions.

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