Home Equity Loan Calculator: How Much Can You Borrow?

It’s a lump-sum loan secured against the equity in your home, registered as a mortgage on title. Because the property backs the loan, approval leans on equity and the home’s value more than your credit score — which is why it’s the go-to product for homeowners the banks have turned down.

Most B lenders go to 80% of appraised value minus what you owe; private lenders typically cap at 75%. On a $700,000 home with $400,000 owing, that’s roughly $160,000 at 80% — run your own numbers in the calculator above.

Yes. Equity lending is priced on the property, not your score — low credit, past consumer proposals and even active collections can still qualify if the equity is there. Expect B-lender rates around 5.99–7.99% or private rates around 9–14% instead of bank pricing.

B-lender seconds generally run about 5.99–7.99%. Private home equity loans run about 9–14%, plus a lender fee of 1–2% and broker fee of 1–2%. Your loan-to-value and location decide which tier you land in.

A HELOC is cheapest but needs bank-level credit and income. A refinance replaces your whole first mortgage — costly if you’d break a low rate. A home equity loan (second mortgage) leaves your first mortgage untouched and closes fast, which is why it wins when credit is bruised or timing is tight.

With an appraisal booked promptly, B-lender deals typically fund in 1–2 weeks; private deals can fund in as little as 48–72 hours for urgent files like stopping a power of sale or foreclosure.

Trading 21% credit-card interest for single-digit secured interest usually cuts hundreds off the monthly bill and stops the credit damage. The trade-off is real: your home now backs the debt, so it only works with a plan — ideally an exit back to an A lender once your credit recovers.