Home Loan Calculators

Run the numbers to learn your options.

Select a mortgage calculator below to learn more about your potential monthly payments, loan amount eligibility, or opportunities to save money.

How much can I borrow?

Find the maximum amount you can borrow from your home equity based on your credit score range and location.

What's my loan payment?

Estimate your monthly payment with your projected home value, mortgage balance and desired loan amount.

Can I save on debt payments?

Determine how much you might be able to save by combining debts into one low-interest monthly payment.

Should I refinance?

Decide on the right time to get a mortgage refinance with a shorter term or lower monthly payment.

Can I cash out my home equity?

See how much cash is available in your home equity for debt consolidation or covering large expenses.

How much house can I afford?

Enter your monthly income, expenses, down payment amount and estimated mortgage details to find out.

Frequently Asked Questions

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A home equity loan in a type of loan with many uses, and it can help you cover the costs of home improvements or debt consolidation as well as pay for large expenses such as a wedding, college education or elder care. You can even use the money from your home equity to invest in a second home, rental property or business. Typically, home equity loans have fixed interest rates so the monthly payment remains the same over the term of the loan.

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A mortgage refinance can help you reduce your monthly payments so that more of your income is available to spend or save for other purposes. If your monthly income increased since you took out your current mortgage, you might want to refinance to a shorter term so that you pay off your mortgage faster and pay less interest over the life of the loan. With a cash out refinance, you can refinance your current mortgage and take additional cash out from your home equity to pay for other expenses.

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Start your application online or give us a call.

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Discover Home Loans Restrictions and Details

We do not lend in IA or MD. You are not guaranteed approval. Once you apply and submit your credit and property information, we will confirm your eligibility. We don’t lend on cooperatives, condotels, investment properties, log homes, manufactured homes, mobile homes, or secondary homes. We will only originate one 1st lien mortgage per property per 12-month period. The maximum loan amount you qualify for will depend on additional factors, including type of loan, lien position, loan-to-value and your credit history. We may change rates, program terms, and conditions without notice. Discover Card accounts may not be paid off with this home loan. All loan programs are offered by Discover Bank, 2500 Lake Cook Road, Riverwoods, IL 60015. NMLS ID 684042.

 

Loan Payment Example Disclosure

For example, if you borrowed $60,000 for a 20 year term at 8.86% APR, your fixed monthly payments would be $534.45.