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HELOC Payment Calculator

Calculate HELOC payments during the draw period (interest-only) and the repayment period. Enter your home value and mortgage balance.

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HELOC Payment Calculator

Home Value
$400,000
$0$100,000,000
Mortgage Balance
$250,000
$0$100,000,000
HELOC Rate (%)
8.5%
0%30%
Draw Period (Years)
10 yrs
5 yrs15 yrs
Repayment Period (Years)
20 yrs
10 yrs30 yrs

How the HELOC Payment Calculator Works

The HELOC Payment Calculator helps calculate heloc payments during the draw period (interest-only) and the repayment period. enter your home value and mortgage balance.. Simply enter your numbers in the fields above and the calculator updates in real-time.

Understanding the Results

  • Available Credit Line: How much you can borrow based on 80% LTV.
  • Interest-Only Payment (Draw): See your calculated interest-only payment (draw).
  • Full Payment (Repayment): See your calculated full payment (repayment).

When to Use This Calculator

  • Use the HELOC Payment Calculator to calculate heloc calculator.
  • Use the HELOC Payment Calculator to calculate home equity line of credit calculator.
  • Use the HELOC Payment Calculator to calculate heloc payment calculator.
  • Compare loan offers from different lenders to find the most cost-effective option.
  • Plan your monthly budget by understanding your exact payment obligations.

Step-by-Step Example

$400k home, $250k mortgage, 8.5% HELOC rate

  • homeValue: 400000
  • mortgageBalance: 250000
  • rate: 8.5
  • drawPeriod: 10
  • repaymentPeriod: 20

Frequently Asked Questions

What is a HELOC?

A Home Equity Line of Credit (HELOC) is a revolving credit line secured by your home. It has two phases: a draw period (typically 10 years) where you pay interest only on what you borrow, and a repayment period (typically 20 years) where you pay principal and interest.

What are the risks of a HELOC?

HELOCs usually have variable rates, so payments can increase. Your home is collateral — missing payments risks foreclosure. During repayment, payments jump significantly as you start paying principal too.

Is HELOC interest tax deductible?

Interest is deductible if the funds are used to buy, build, or substantially improve your home (subject to limits). Using HELOC funds for other purposes (debt consolidation, vacations) is not deductible.

Disclaimer: This calculator provides estimates for educational purposes only. Always consult a qualified financial professional for personalized advice.