HELOC vs. home equity loan
A HELOC is a revolving line (variable rate, draw period then payback). A home equity loan is a lump sum with fixed rate. HELs cost less interest if you know exactly how much you need.
Home equity loan calculator
Estimate HELOC or home equity loan payments, interest, and total cost.
Results
Available equity
$162,500.00
Monthly payment
$2,014.77
Total interest
$79,272.09
Max total debt
$382,500.00
Frequently asked questions
1.Is HELOC interest tax-deductible?
Only if used for home improvements, capped at joint mortgage+equity debt of $750k. Using for personal expenses — not deductible.
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