How much can I borrow with a HELOC?

Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker

Most lenders let you borrow up to 80% to 90% of your home's value minus your existing mortgage balance. On a $500,000 home with a $300,000 mortgage, an 85% limit leaves roughly $125,000 of available credit.

Your income and credit also factor in. We'll calculate your available line based on current Florida value and your remaining balance.