You might’ve heard others talk about borrowing against the equity in their homes. Your home equity is the difference between the fair market value of your house and what you still owe on your home. For example, if your home is valued at $200,000 and you owe the mortgage company $175,000, your home equity would be $25,000. A Home Equity Line of Credit (HELOC) is a type of revolving credit that allows you to borrow against your home equity. Our Home Equity Line of Credit Calculator can help you estimate how much credit you might be able to obtain using your home’s equity.
Home Equity Line of Credit Calculator Definitions
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