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Usable equity calculator.

Equity is the part of your home you own: its value less what you owe. Usable equity is the part a lender may let you borrow against, usually up to 80% of the property’s value. Enter your home’s value and your loan balance to see the usable equity at 80% or 90%, the new total loan if you drew it all, and the estimated LMI above 80%.

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How this calculator works.

  1. The borrowing ceiling is the property value multiplied by the target loan-to-value ratio, 80% or 90%.
  2. Usable equity is that ceiling less your current loan balance, and never less than zero.
  3. The new total loan is your current balance plus the usable equity.
  4. Above 80% the calculator adds an indicative LMI on the new total loan, using the same flat rates by LVR band as the LMI calculator.
  5. Usable equity is borrowing capacity, not cash. Drawing on it increases your loan.

What it assumes

  • The starting scenario is a property worth $800,000 with $400,000 owing, which gives $240,000 of usable equity at 80%.
  • The value is the one you enter. A lender will arrange its own valuation, which may differ.
  • LMI is a flat indicative rate by LVR band, not a lender quote.
  • Assumptions last reviewed 25 September 2026.

Questions people ask.

What is the difference between equity and usable equity?

Equity is your property’s value less your loan. Usable equity is the part you can actually borrow against once the lender’s limit is applied, typically 80% of the value less what you owe, so it is smaller than your total equity.

How do I calculate the equity in my home?

Multiply the property’s value by the maximum loan-to-value ratio, then subtract what you owe. For example, $800,000 at 80% is $640,000; with $400,000 owing, usable equity is $240,000. The calculator does this for you at 80% or 90%.

What can I use equity for?

Common uses are renovations, a deposit on another property, consolidating debt or refinancing. The lender will ask what the money is for and will assess whether you can afford the larger loan.

Do I need a valuation to access my equity?

Usually yes. Lenders normally arrange their own valuation, which can come in above or below the value you enter, and it determines how much equity is available.

Will I pay LMI if I borrow up to 90%?

Borrowing above 80% of the property’s value generally attracts LMI. The calculator estimates it on the new total loan when you choose 90%.

Does having equity mean I can afford a bigger loan?

No. Equity is security for the lender, but it also has to be satisfied that you can afford the repayments. The borrowing power calculator estimates that side.

More calculators.

Usable Equity Calculator | Siare