Side-by-side decision tool

Compare ways to access your equity.

Model a revolving HELOC, fixed home equity loan, and cash-out refinance without assuming any of these products are available or approved.

Your assumptions

HELOC payment structure

One fully amortizing investment-property equity-line structure uses principal-and-interest payments and a full initial draw. This comparison calculator does not determine program eligibility.

Property value ($)

Existing mortgage ($)

Requested cash ($)

Assumed maximum CLTV

Existing first rate

Years remaining on first

HELOC rate

Fixed equity loan rate

Cash-out refinance rate

Second-lien repayment term

years

Cash-out refinance term

years

Optional upfront fees (your assumptions)

Enter lender-provided amounts if known. Zero is a placeholder, not a promise of no fees. Assumes these fees are paid in cash, not financed into the balance.

HELOC fees ($)

Fixed equity loan fees ($)

Cash-out refinance fees ($)

Modeled borrowing capacity

$100,000

Modeled advance: $75,000 · Existing first mortgage payment: $1,689/month

Structure	Monthly estimate	First mortgage
HELOC, amortizing	$2,450	Preserved
Fixed home equity loan	$2,450	Preserved
Cash-out refinance	$2,762	Replaced

Scenario breakdown

First 12 months: cash paid vs. principal reduced

At the constant rates and balances entered above. Interest + assumed fees is not the same as cash outflow: principal repayment also uses cash, but reduces your loan balance.

HELOC + first mortgage

12-month payments + assumed fees

$29,397

Interest + fees: $19,311
Principal paid: $10,086
Balance after year 1: $384,914

Fixed equity loan + first mortgage

12-month payments + assumed fees

$29,397

Interest + fees: $19,311
Principal paid: $10,086
Balance after year 1: $384,914

Cash-out refinance

12-month payments + assumed fees

$33,143

Interest + fees: $29,502
Principal paid: $3,641
Balance after year 1: $391,359

Cash-out refinances reset the entire mortgage to a new term. Second-lien scenarios keep the entered existing first mortgage. This calculator cannot predict actual APR, financed fees, variable rates, tax consequences, re-draws, escrow or refinance break-even. Do not rank loans solely by these estimates.

Stress test the HELOC

At a rate two percentage points higher, modeled combined monthly payments rise to $2,542. This scenario already includes principal and interest from origination; there is no interest-only teaser payment.

These are simplified principal-and-interest estimates, excluding taxes, insurance, fees not entered as assumptions, variable-rate changes beyond the example, valuation adjustments, and lender-specific terms. Cash-out refinancing replaces the first mortgage; HELOC and home equity loan calculations assume the existing first mortgage stays in place. No scenario represents a quote or approval.

Read the financing comparison guide