HELOC payment calculator
Free browser-based loan and savings estimates. The interactive calculator requires JavaScript; explanations and examples are available below.
Read the guideFree browser-based loan and savings estimates. The interactive calculator requires JavaScript; explanations and examples are available below.
Read the guideEnter the balance already drawn, a constant annual interest rate, the remaining draw months and the repayment term. During the modeled draw period, payments cover interest only and the balance stays unchanged. Afterward, repayment amortizes the balance. The results distinguish the initial draw payment from the first repayment-period payment.
Zero remaining draw months starts amortizing repayment immediately. The entered extra monthly principal applies only in the repayment period; it does not reduce the modeled drawn balance during the interest-only period. The repayment term is additional to the remaining draw period, so the total timeline includes both.
Most HELOCs have variable rates, but this tool holds the entered rate constant for the entire scenario and assumes no new draws. Try several higher constant rates to see how affordability could change; this is not a prediction of future rates, a reset schedule or a worst-case contractual maximum. The tool excludes lender-specific minimums, balloon structures, fees added to principal and prepayment penalties.
A hypothetical $50,000 drawn balance at a constant 8.5% with 120 remaining interest-only months has a draw payment of $354.17. A subsequent 240-month repayment period starts at $433.91 per month. The modeled combined horizon is 360 months.
These example rates are not current market quotes. Change the calculator inputs to match your own scenario. Displayed amounts are rounded; calculations use unrounded values.
No. Each calculation uses one constant annual rate.
No. The balance is held constant during the modeled interest-only draw period.
Read our calculation methodology and limitations before relying on an estimate.
Educational estimates, not financial advice, loan offers or guaranteed returns.