Net Worth
$385KTop 42%PeakWorth
$4.2M+$182KNet Worth
$385KTop 42%PeakWorth
$4.2M+$182KFI Age
50y 1m-11moA home equity loan can be the cheapest money you'll ever borrow — or the most expensive mistake. Run the full math first.
Typical HELOAN rate (2026)
~8.5%
Max combined LTV
Usually 80–85%
Typical term
5–30 years
Tax deductible if
Used to improve home
Monthly payment
$477.83
Total interest
$36,009
Total paid
$86,009
Loan term
15 years
| Year | Payments | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $5,734 | $1,799 | $3,935 | $48,201 |
| 2 | $5,734 | $1,948 | $3,786 | $46,253 |
| 3 | $5,734 | $2,110 | $3,624 | $44,143 |
| 4 | $5,734 | $2,285 | $3,449 | $41,858 |
| 5 | $5,734 | $2,475 | $3,259 | $39,383 |
Estimates only. Excludes fees, escrow changes, and tax effects. For educational purposes — not financial advice.
A second mortgage giving you a lump sum at a fixed rate, repaid over 5–30 years with a fixed monthly payment. Lower rate than a personal loan because your house secures it — which also means default leads to foreclosure.
Best uses: home improvements with strong ROI, debt consolidation if you'll stay in the home, education with a clear payoff plan. Bad uses: vacations, vehicles, lifestyle expenses.
HELOAN: fixed rate, lump sum, fixed payment — best for a known one-time expense. HELOC: variable rate, draw as needed — best for ongoing or unknown costs. Cash-out refi: replaces your primary mortgage entirely — best when refi rate is also better than your current rate.
A calculator alone tells you the payment. PeakWorth tells you what that payment costs your retirement — and how every change ripples through the next 30 years of your finances.
Only if proceeds are used to buy, build, or substantially improve the home securing the loan (per current IRS rules). Consult a tax pro.
Most lenders cap combined loan-to-value at 80–85%. Subtract your existing mortgage from that to get available equity.
You stay obligated to repay even if you go underwater. Don't borrow at peak valuations for non-essential expenses.
Learn guides, true-cost calculators, and audience playbooks across the PeakWorth network.
Decision guide
Should you tap your home equity?
HELOAN vs HELOC vs cash-out — the FI Age trade-off.
Decision guide
Should you open a HELOC?
Draw period, variable-rate payment, and the real risk.
Cost of
Carrying credit card debt
22% APR compounded — the silent FI Age killer.
Cost of
Buying a $1M house
Mortgage + taxes + maintenance + opportunity cost.
Built for
PeakWorth for physicians
Late start, high income, six-figure debt — modeled together.
Compare
PeakWorth vs SoFi Automated Investing
SoFi’s 0.25% member robo vs the planning layer above.
PeakWorth includes every loan calculator above — connected to your real income, expenses, and goals. Every number you change updates your live FI Age and lifetime projection.
