Two minutes here saves you a week of applications. Enter your home, your mortgage balance, your state, and your credit range. You get a realistic cash range, a straight answer on whether a HELOC or a home equity agreement fits you, and only the companies that can actually fund your state.
Home equity calculator
Nothing here is submitted anywhere. The math runs on this page.
Type it or slide, from $100,000 to $10 million. Not sure? Use your last appraisal, your county's assessed value, or a recent sale on your street. A rough guess is fine, because the estimate form runs its own valuation.
Everything secured by the home: first mortgage plus any HELOC or second loan. Enter 0 if it is paid off.
How this calculator works
Home equity agreement companies typically offer 10 to 20 percent of your home's value, and they want you to keep at least 25 percent equity after the deal.
So the range you see is 10 to 20 percent of your value, capped so your total borrowing stays under 75 percent of the home, and capped at $600,000, the highest offer in the category.
The HELOC number assumes a lender will go to 80 percent of your home's value including your first mortgage, with $750,000 as the ceiling, which is where Figure tops out. The monthly payment estimate is interest only at 9 percent, close to the middle of the current range.
State coverage comes from each company's current funding list, not marketing pages. Credit floors are each company's published minimum. Both change, so treat the result as a shortlist and let the estimate form give you the final answer.
The ten year cost box uses the rule most agreement companies price with: the share they take is about double the slice of value you receive, and it assumes 3.5 percent a year of appreciation. Our best home equity investment companies roundup compares how each company prices that share.
HELOC or home equity agreement: how to decide
These are the two real choices for most homeowners, and the deciding question is not the rate. It is whether a monthly payment is possible for you.
| Home equity agreement | HELOC | |
|---|---|---|
| Monthly payment | None | Required, interest at least |
| Credit needed | About 500 to 620, by company | About 640 or higher |
| Income documentation | Minimal, often none | Full underwriting |
| What it costs | A share of future value, about 2x the slice you take | Interest on what you draw |
| Keep all appreciation | No, you share it | Yes |
| Cheapest when | Home grows slowly or a payment is impossible | You can carry a payment |
| Get a Hometap estimate → | Check my Figure rate → |
Our home equity agreement pros and cons guide goes deeper on the tradeoff, and our list of HELOC alternatives covers every other route to your equity, including the ones that are not agreements at all.
Which companies fund your state
Coverage is the first filter, because a company that cannot fund your state is not an option no matter how good its terms look. The calculator applies this for you. Here is the full picture.
| Company | Footprint | Term | Credit floor | Our take |
|---|---|---|---|---|
| Figure (HELOC) | Every state except Hawaii | 10 to 30 years | About 640 | Figure review |
| Point | 30 states plus D.C. | Up to 30 years | About 500 | Point profile |
| Unison | 22 states plus D.C. | Up to 30 years | About 620 | Unison review |
| Hometap | 20 states | 10 years | 585 | Hometap review |
| JG Wentworth | 16 states plus D.C. | 10 years | 600 | JG Wentworth review |
| Splitero | 13 states | Up to 30 years | About 500 | Splitero review |
| Nada | 12 states | 10 years | About 500 | Nada profile |
Nobody on this list funds Texas, Alabama, or Mississippi with an agreement right now, so a HELOC is the route there. Our best home equity investment companies roundup compares every agreement company side by side.
Turn the estimate into a real offer
Hometap could give you up to $600,000 of your equity with no monthly payments. The estimate is free, takes a couple of minutes, and does not affect your credit. Homeowners with credit from 585 and at least 25% equity could qualify, among other criteria, in an eligible state.
Get My Free Hometap Estimate →No obligation, no credit impactFrequently asked questions
Where to go next
The calculator gives you a range. Only an estimate from the company gives you a real offer, and each one is free and a soft pull. These are the three to start with.
Want the fine print first? Read the reviews: Hometap, Unison, Splitero, Unlock, JG Wentworth, and Figure. Our Hometap vs Unison comparison settles the most common head to head.
If a payment is possible, price the cheaper route with our best HELOC lenders guide and our walkthrough on how to evaluate HELOC options. If speed matters most, see which options fund quickest in our guide to getting a home equity loan fast.
