Home equity loan calculator

Come usare il Home equity loan calculator

Cosa calcola e quando usarlo

Lavoro out how much you could borrow against your home e the fixed payment on a home equity (second mortgage) loan.

Come si usa, passo dopo passo

1. Enter the home Valore e Corrente mortgage Saldo.
2. Set the Massimo combined loan-to-value your lender allows.
3. Enter the Interessi Tasso e term, e the amount you want a borrow.

Cosa significa ogni dato

• Combined loan-to-value – The Massimo di mortgage plus new loan as a percentage di value. Lenders commonly use 80–85%.
• Quantità a borrow – Leave blank a use the Massimo.

Come leggere i risultati

• Equity you could borrow – Valore × limit − mortgage Saldo.
• Combined LTV dopo – Mortgage plus new loan ÷ Valore.
• Pagamento mensile – The fixed payment superato the Durata.

La formula

Available = Valore × limit − mortgage Saldo. Payment = Quantità × r ÷ (1 − (1 + r)^−n), where r è the Annuale Tasso ÷ 12.

Un esempio pratico

A 400,000 home with a 240,000 mortgage e an 85% limit leaves 100,000 a borrow. At 8.25% per 15 years the payment è 970.14, total interest è 74,625 e the combined loan-to-value è 85%.

Ipotesi e limiti

• Fixed Tasso e equal payments.
• Fees e valuation costs are excluded.
• The home secures the loan.

Errori comuni

• Borrowing the Massimo per non-essential spending.
• Forgetting that missed payments put your home A risk.

Domande frequenti

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