Home Equity Line of Credit Calculator

Are you interested in adding a new room addition to your home for your growing family?  Adding an outdoor kitchen living area to your backyard?  Or maybe you want to finance the trip of a lifetime, help pay for college tuition or need help for a car repair emergency. Missouri Central Credit Union is here to help!  Use our simple home equity loan calculator to determine the home equity line of credit amount you may qualify to receive. 

How do home equity loans work?  The more your home is worth; the larger line of credit will be available since it is based on a percentage of the value of your home.  The final line of credit you will receive will take into account any outstanding mortgages including first and second mortgages and any other debt you have secured by your home. 

You will need to know the current appraised value of your home; it may be worth quite a bit more than your original purchase price.  

Our home equity loan calculator will calculate the loan-to-value ratio which is defined as the percent of your home’s appraised value that your lender will allow.  For example, an 80% loan-to-value ratio will allow you to have $80,000 in debt secured by a home appraised at $100,000.  Remember- the total debt allowed includes all outstanding mortgages plus your new line of credit.

Each home equity line of credit at Missouri Central Credit Union provides:

  • 10 year draw period
  • Up to 15 years to repay
  • Low or no closing costs
  • Borrow up to 95% of your appraised value

Call Missouri Central Credit Union today to help you get started on our next home project with a Home Equity Line of Credit.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.