Estimate Your Home Equity Payment
See how you can put your home's equity to work. Choose between a HELOC or Home Equity Loan and get an estimate of your monthly payment.
HELOC with a 60-month draw period. Minimum payment is the greater of $100 or 0.5% of your outstanding balance.
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Minimum: $15,000 %
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Estimated monthly payment
Estimate Summary
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Available equity (85% LTV) -
Current offer through July 30, 2026
Lock in a 6.25% fixed rate with NO closing costs, PLUS Open a new FSB checking account with auto-payment and earn a $200 bonus.
Calculator disclaimer: This calculator provides estimates only and is not a guarantee of rates, terms, or payment amounts. Actual terms depend on creditworthiness, property value, and other factors. Minimum loan amount of $15,000. Maximum loan-to-value of 85%. Minimum credit score of 690. View full promotion disclosure.
Home Equity Loan Calculator FAQs
Have questions about how a home equity loan or HELOC works? These quick answers can help you understand estimated payments, borrowing limits, loan terms, and what to expect before you apply.
How does a home equity loan calculator work?
A home equity loan calculator estimates your monthly payment based on the amount you want to borrow, the interest rate, and the repayment term. It can also help show how much equity may be available based on your home’s value and current mortgage balance.
How much can I borrow with a home equity loan or HELOC?
The amount you may be able to borrow depends on your home’s value, your current mortgage balance, your credit profile, and the lender’s maximum loan-to-value guidelines. In general, the more equity you have in your home, the more you may be able to borrow.
At FSB, the maximum combined loan-to-value is 85%, and the minimum loan amount is $15,000. Final approval also depends on credit and underwriting, including a minimum credit score of 690.
What is the difference between a home equity loan and a HELOC?
A home equity loan typically gives you a lump sum with a fixed rate and fixed monthly payment. A HELOC, or home equity line of credit, gives you access to a line of credit you can draw from, which can offer more flexibility depending on your borrowing needs.
The fixed-rate HELOC has a 60-month term, and the payment is the greater of $100 or 0.5% of the outstanding principal balance. The fixed-rate home equity loan is structured with fixed monthly payments and longer amortization options based on the loan amount.
What factors affect my home equity loan payment?
Your estimated payment is usually based on the amount borrowed, the interest rate, and the repayment term. A larger loan amount or higher rate will usually increase the monthly payment, while a longer repayment term may lower the monthly payment amount.
At FSB, home equity loans may be amortized for up to 15 years for loans of $25,000 or more and up to 10 years for loans of $15,000 or more. That means your loan amount may affect which repayment terms are available to you.
Should I choose a HELOC or a fixed home equity loan?
A fixed home equity loan may be a better fit if you want a predictable monthly payment and a set repayment schedule. A HELOC may be a better choice if you want flexibility to access funds as needed over time.
The fixed-rate HELOC may appeal to borrowers who want access to a line during the term, while the fixed-rate home equity loan may be better for those who want a lump sum and a clearly defined repayment plan.
HELOC Promotion Disclosure
†All rates are subject to change without notice. FSB is not responsible for typographical errors or omissions.
*To qualify for a fixed rate Home Equity Loan with a with 6.801% APR or a Home Equity Line of Credit (HELOC) at 6.25% APR, with up to $400 off closing costs; you must have a credit score of 690 or greater, a maximum loan to value ratio of 85%, payments to be auto debited from an FSB checking account and a minimum loan amount of $15,000. Loan proceeds cannot be used to refinance an existing FSB loan unless the existing loan is increased by a minimum of $15,000 and written into a fully amortized home equity loan. The unpaid principal balance and accrued interest will be due as a balloon payment at maturity in 60 months for HELOC’s, with $100 minimum monthly payment required. All other home equity loans mature at 66 months, with a possible balloon payment. Payment does not include taxes and insurance. Proof of property insurance is required at the time of closing. An annual maintenance fee of $15 will apply to HELOC’s. Must be 18 years or older to apply. Loan subject to credit approval. Other rates, terms, and payment options are available. Promotion expires on 7/31/2026. NMLS# 403565.
**To qualify for the $200 bonus, you must not currently have an FSB checking account and open a new checking account by the end of the promotion. Direct deposit and estatement enrollment required. Confirmation of a min. of 3 payroll deposits with a minimum of $500. amount required prior to receiving the bonus payment. The bonus will be deposited into your checking account within 30 calendar days of the third payroll direct deposit posting to the account. Limit one $200 bonus per household. Opening any FSB checking account qualifies. A $25-$1,000 min. deposit is required to open. Rewards Checking is interest-bearing. Earn up to 3.50% APY (Annual Percentage Yield), APY effective as of 4/2/2026. The interest rate and annual percentage yield (APY) will depend upon the daily balance in the account, as shown in the rate chart, and making 15 debit card purchases of $20 or more. All new checking accounts are subject to account approval and 1099 reporting. May not be combined with other offers. See product information for additional requirements specific to each account type. Must be 18 or older. Promotion ends 7/31/2026.
