Use this calculator to determine the home equity line of credit amount you may qualify to receive. The line of credit is based on a percentage of the value of your home. The more your home is worth, the larger the line of credit. Of course, the final line of credit you receive will take into account any outstanding mortgages you might have. This includes first mortgages, second mortgages and any other debt you have secured by your home.

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Definitions

Appraised value of your home
Sometimes called a property valuation, the appraised value of your home is an informed estimate of the value of property. If it has been a few years since you purchased your home, your home value may have changed significantly up or down.

Mortgages you owe
This is the total of all outstanding mortgages on your home. This should include your first mortgage, second mortgages and any other debt that is secured by your home. All existing junior liens will have to be paid off with the proceeds of the new line.

Loan-to-value ratio
The loan-to-value ratio is the maximum percent of your home's appraised value that a lender will allow. For example, at our current maximum loan-to-value ratio of 85%, we would allow you to have $85,000 in debt secured by a home appraised at $100,000. Remember - the total debt allowed includes all outstanding mortgages plus your new line of credit. The maximum LTV that Sandy Spring Bank will allow is 85%.

Realize your dreams with an Equity Line of Credit. Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.