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Borrowing against the equity in your home has its advantages. But like any loan or line of credit, it’ll introduce another monthly payment obligation to your existing financial picture. That’s why it’s important to understand how this type of borrowing works.

The smartest first step is to consult a lending professional — someone who can accurately calculate your home’s equity and give you all the related details. In the meantime, you can use this calculator to estimate how repaying a home equity loan or line of credit could impact your financial situation.

Need to estimate the amount of equity you have in your home? Click here.

Estimate a home equity loan payoff amount and schedule:

Disclaimer: Estimates are for educational purposes only and do not represent a financing offer from Dupaco Community Credit Union.

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