Keep your first mortgage
A HELOC is separate from your existing first mortgage. It adds a borrowing obligation without replacing that mortgage.
Mortgage calculators
Informational tools for amortizing mortgages. These estimates do not describe HELOC payments or terms. Our available application path is for HELOCs only.
Estimated monthly payment
Principal, interest, estimated taxes and insurance
Principal & interest: $2,555
Estimated property tax: $440
Estimated insurance: $140
Estimated PMI: $0
Total payment$3,141
Assumes annual property tax of 1.1% and insurance of 0.35% of home price, plus annual PMI of 0.5% of the loan when the down payment is below 20%. Excludes HOA dues and other possible costs. Entered rates are assumptions, not offers.
Illustrative cumulative housing outlay
Renting$300,000
Owning$298,000
Over this period, the estimated difference is $2,000.
Estimated outlay difference$2,000
Assumes a 30-year mortgage at 7%, rent rising 3% annually, and fixed annual property tax and insurance totaling 1.45% of home price. Owning includes the down payment and 3% purchase costs. Excludes PMI, HOA dues, maintenance, sale costs, tax effects, and investment returns. This compares cash outlay, not net cost after equity or resale proceeds.
Potential principal & interest difference
Current scenario$3,496
Comparison scenario$3,243
Payment change over timeframe$15,180
Both scenarios use the same loan amount and a new 30-year term. The totals compare principal and interest payments only, excluding closing costs, loan fees, taxes, insurance, prepayment, and differences in remaining balances. The comparison rate is user-entered and is not a quote.
Illustrative buying power
Estimated home price based on the assumptions entered
Estimated loan amount: $661,000
Down payment: $100,000
Potential home price$761K
Uses 75% of your housing budget for principal and interest, reserving 25% for other housing costs. Actual costs may exceed that allowance. This is not a prequalification or affordability determination. Qualification depends on income, debts, credit, reserves, property costs, and underwriting.
Understand your home equity
A line of credit for the plans ahead.
A HELOC lets eligible homeowners borrow against available equity. Your home secures the debt, so consider the costs and repayment obligations before borrowing.
Plan a home project
Consider available equity for renovations or repairs, with a budget for both the work and repayment.
Compare borrowing costs
Review the rate, fees, and repayment period together. A lower monthly payment alone does not mean a lower total cost.
Understand the security
Your home secures a HELOC. Missed payments can put your home at risk, including foreclosure.
Explore available equity
Eligibility and available amounts depend on your property, mortgage balance, credit, and lender review.
Explore my HELOC options ↗Check the repayment terms
Ask how draws, rate changes, and the repayment period affect your payments before accepting an offer.
Start with what matters
What do you want your financing to help you accomplish?
Improve your home
Plan renovations or repairs around your available equity and repayment budget.
Review existing debt
Compare total costs before consolidating. Moving unsecured debt to a HELOC puts your home behind that debt.
Put equity to work
Consider equity for renovations, consolidation, major expenses, or added flexibility.
Plan a major expense
Weigh using home equity against other ways to pay and the payments you can sustain.
What happens next
Clear guidance from first question to closing.
Share your goal
Tell us about the property, the financing you have in mind, and your timing.
Understand the paths
We help organize the details and explain relevant options without unnecessary jargon.
Choose your next step
When you are ready, we help keep the process clear and coordinated through the finish line.