HELOC vs. HELOAN Calculator
Compare a HELOC (revolving line) against a HELOAN (fixed home equity loan) at your own numbers. See max access, monthly cost, and the full payment breakdown side by side. Educational only, never a quote.
Compare HELOC and HELOAN at your numbers
Enter your home value, mortgage balance, and credit band to compare a revolving HELOC against a fixed HELOAN. Educational illustration only — not a quote.
Compare HELOC and HELOAN at your numbers
| Program | Max access | Est. monthly | Year 1 cost | Term |
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Illustrative only. Real LTV caps, rates, fees, and qualifying criteria vary by lender, property, occupancy, and credit profile. MortEdu does not originate loans. Compare offers from at least three licensed institutions.
See the full cost for a specific amount
Enter how much you'd borrow and your rate to see the exact payments, total interest, and total cost — the detailed breakdown the way Calculator.net or Bankrate shows it. Uses the home value and mortgage balance from the calculator above.
Max available at 90% CLTV: $0
Show the month-by-month amortization schedule
| Month | Payment | Principal | Interest | Balance |
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Illustrative only. Actual rates, draw/repayment terms, fees, and qualifying criteria vary by lender and credit profile. MortEdu does not originate loans or quote rates. Compare offers from at least three licensed institutions.
HELOC vs HELOAN average rates, 2025–2026
Illustrative educational trend anchored to national sample rates — not a live quote. HELOC rates are variable (near prime plus a margin); HELOAN rates are fixed. Actual rates vary by lender, credit, and CLTV and change daily.
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HELOC vs. HELOAN: what's the difference?
Both let you borrow against your home's equity while keeping your existing first mortgage — useful when you have a low first-mortgage rate you don't want to lose. A HELOC (home equity line of credit) is a revolving line with a variable rate: you draw what you need during a draw period, often paying interest-only at first, then repay over an amortizing term. A HELOAN (home equity loan) is a fixed-rate lump sum at closing with predictable payments — closer to a traditional installment loan.
HELOCs suit ongoing or uncertain costs (a phased remodel, a cushion) and reward discipline, since the variable rate can move. HELOANs suit a known, one-time expense where a fixed payment matters. Both typically allow up to about 90% combined loan-to-value (CLTV). The calculator above runs your numbers through both so you can compare max access, monthly cost, and the full payment breakdown. If you'd rather pull cash by replacing your first mortgage, see the cash-out refinance calculator.
Common questions
Which is cheaper, a HELOC or a HELOAN?
It depends on rates and how you'll use the money. HELOCs often start with a lower variable rate and interest-only draws, but the rate can rise; HELOANs lock a fixed rate for the life of the loan. For a known one-time cost, a HELOAN's certainty often wins; for flexible, ongoing needs, a HELOC can cost less if rates stay steady.
How much can I borrow with a HELOC or HELOAN?
Most lenders allow up to about 90% of your home's value across all liens (combined LTV). Your available amount is roughly that cap minus your current mortgage balance. Your credit band affects both eligibility and rate — the calculator estimates this for you.
Is this a quote?
No. It is an educational estimate using illustrative rates and typical CLTV caps — not a quote, pre-qualification, or commitment to lend. MortEdu is an educational publisher, not a lender, broker, or servicer. Confirm all figures with a licensed lender.