Financial

HELOC Calculator

Calculate Home Equity Line of Credit (HELOC) interest-only draw period payments and repayment period payments.

Using the HELOC Calculator

A Home Equity Line of Credit (HELOC) provides a revolving source of funds using your home as collateral. This tool models both the "Draw Period" (usually 5-10 years of interest-only payments) and the "Repayment Period" (when you must pay back both principal and interest), helping you prepare for future payment spikes.

How it Works

Enter your credit limit and current balance.

Input the annual interest rate (HELOC rates are usually variable).

Specify the length of the draw and repayment periods.

Compare the monthly "Interest-Only" payment with the eventual full repayment cost.

Home Value ($)

Mortgage Balance ($)

Max LTV (%)

HELOC Balance Drawn ($)

Interest Rate (%)

Draw Period (years)

Repayment Period (years)