California HELOC Calculator
A HELOC lets you borrow against home equity at variable rates. Most lenders allow borrowing up to 80-90% of your home's value. Use this calculator to estimate your available credit and monthly payments.
Your Home Equity
Your HELOC Estimate
Enter your details to see your available credit.
How HELOCs Work in California
Draw Period (10 Years)
- Access funds as needed up to your limit.
- Make interest-only payments (or more).
- Variable rate changes with the Prime Rate.
Repayment Period (20 Years)
- Drawing funds is no longer allowed.
- Required principal and interest payments.
- Loan is fully paid off over this term.
HELOC vs. Cash-Out Refinance
When to Choose a HELOC
- Your current mortgage rate is excellent (e.g., below 5%) and you don't want to lose it.
- You need flexibility to draw funds as needed for ongoing projects.
- You're unsure of the total amount you'll need.
- You need funds for a shorter term and plan to repay it quickly.
When to Choose a Cash-Out Refinance
- Your current mortgage rate is high and you can get a lower rate on your entire loan.
- You need a large, single lump sum of money.
- You prefer the certainty of a fixed interest rate and a predictable monthly payment.
- You want to spread the repayment over a long term (e.g., 30 years).
California HELOC Requirements
Credit Score
Minimum 640-660, but 680+ is preferred for better rates. 740+ gets the best terms.
Equity (CLTV)
Most lenders allow a maximum Combined Loan-to-Value (CLTV) of 80-85%. You generally need at least 15-20% equity.
Debt-to-Income (DTI)
Your DTI ratio, including the potential HELOC payment, should typically be below 43-50%.