What is a Home Equity Loan Calculator?

Best Mortgage Online19 May, 2022Finance

A home equity loan calculator is a tool used to help borrowers figure out how much money they can borrow against the equity in their home. The calculator considers the current value of the home, the outstanding mortgage balance, and other factors such as closing costs and interest rates. That information can help borrowers determine whether or not they should take out a home equity loan and how much they can afford to borrow.