HELOC Calculator
Estimate your interest-only draw period payment and your amortizing repayment period payment on a home equity line of credit (HELOC).
Results from this calculator are estimates provided for general informational purposes only, based on formulas, rates, and standards commonly accepted as of 2026. Figures may differ slightly from other calculators or professional sources due to rounding methods, differing assumptions, or regional regulations, and rules may change over time. Always consult a qualified professional — such as a financial advisor, healthcare provider, or other relevant specialist — before making decisions based on these results.
Draw-Period Payment
$354.17
interest-only
Repayment-Period Payment
$492.37
principal + interest
Example
Drawing $50,000 from a $50,000 credit line, the interest-only payment during the 10-year draw period at 8.5% is $354.17/month. Once repayment begins in Aug 2036, the balance amortizes over 15 years at 8.5%, for a payment of $492.37/month. Total interest over both phases is about $81,127.
Available Credit Line
Based on your inputs, your lender would typically allow up to $120,000.00 — combined loan-to-value with this full limit drawn is 62.5%.
Amount Drawn
$50,000.00
Total Interest
$81,126.96
Payoff Date
Aug 2051
Total cost, split between principal and each phase's interest
- Principal: $50,000.00
- Draw Interest: $42,500.40
- Repayment Interest: $38,626.56
What is a HELOC Calculator?
A HELOC (home equity line of credit) calculator estimates your payments on a revolving credit line secured by your home's equity — similar to a credit card, but with your house as collateral and typically a far lower interest rate. Unlike a home equity loan's single lump sum, a HELOC lets you draw funds as needed, up to your approved limit, during a set draw period.
This calculator models both phases of a HELOC: the draw period, where you typically make interest-only payments on whatever balance you've drawn, and the repayment period, where the line closes to new draws and the outstanding balance amortizes into fixed principal-and-interest payments — often causing a payment shock if you weren't planning for it.
Remaining balance and cumulative interest across the draw and repayment periods
Full Payment Schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 2 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 3 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 4 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 5 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 6 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 7 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 8 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 9 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 10 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 11 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 12 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 13 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 14 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 15 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 16 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 17 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 18 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 19 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 20 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 21 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 22 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 23 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 24 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 25 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 26 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 27 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 28 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 29 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 30 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 31 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 32 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 33 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 34 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 35 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 36 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 37 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 38 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 39 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 40 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 41 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 42 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 43 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 44 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 45 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 46 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 47 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 48 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 49 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 50 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 51 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 52 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 53 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 54 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 55 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 56 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 57 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 58 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 59 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 60 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 61 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 62 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 63 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 64 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 65 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 66 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 67 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 68 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 69 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 70 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 71 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 72 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 73 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 74 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 75 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 76 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 77 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 78 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 79 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 80 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 81 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 82 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 83 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 84 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 85 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 86 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 87 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 88 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 89 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 90 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 91 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 92 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 93 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 94 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 95 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 96 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 97 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 98 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 99 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 100 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 101 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 102 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 103 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 104 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 105 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 106 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 107 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 108 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 109 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 110 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 111 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 112 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 113 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 114 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 115 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 116 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 117 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 118 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 119 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 120 | $354.17 | $0.00 | $354.17 | $50,000.00 |
| 121 | $492.37 | $138.20 | $354.17 | $49,861.80 |
| 122 | $492.37 | $139.18 | $353.19 | $49,722.61 |
| 123 | $492.37 | $140.17 | $352.20 | $49,582.45 |
| 124 | $492.37 | $141.16 | $351.21 | $49,441.29 |
| 125 | $492.37 | $142.16 | $350.21 | $49,299.13 |
| 126 | $492.37 | $143.17 | $349.20 | $49,155.96 |
| 127 | $492.37 | $144.18 | $348.19 | $49,011.78 |
| 128 | $492.37 | $145.20 | $347.17 | $48,866.57 |
| 129 | $492.37 | $146.23 | $346.14 | $48,720.34 |
| 130 | $492.37 | $147.27 | $345.10 | $48,573.07 |
| 131 | $492.37 | $148.31 | $344.06 | $48,424.76 |
| 132 | $492.37 | $149.36 | $343.01 | $48,275.40 |
| 133 | $492.37 | $150.42 | $341.95 | $48,124.98 |
| 134 | $492.37 | $151.48 | $340.89 | $47,973.50 |
| 135 | $492.37 | $152.56 | $339.81 | $47,820.94 |
| 136 | $492.37 | $153.64 | $338.73 | $47,667.30 |
| 137 | $492.37 | $154.73 | $337.64 | $47,512.58 |
| 138 | $492.37 | $155.82 | $336.55 | $47,356.75 |
| 139 | $492.37 | $156.93 | $335.44 | $47,199.83 |
| 140 | $492.37 | $158.04 | $334.33 | $47,041.79 |
| 141 | $492.37 | $159.16 | $333.21 | $46,882.63 |
| 142 | $492.37 | $160.28 | $332.09 | $46,722.35 |
| 143 | $492.37 | $161.42 | $330.95 | $46,560.93 |
| 144 | $492.37 | $162.56 | $329.81 | $46,398.37 |
| 145 | $492.37 | $163.71 | $328.66 | $46,234.65 |
| 146 | $492.37 | $164.87 | $327.50 | $46,069.78 |
| 147 | $492.37 | $166.04 | $326.33 | $45,903.74 |
| 148 | $492.37 | $167.22 | $325.15 | $45,736.52 |
| 149 | $492.37 | $168.40 | $323.97 | $45,568.11 |
| 150 | $492.37 | $169.60 | $322.77 | $45,398.52 |
| 151 | $492.37 | $170.80 | $321.57 | $45,227.72 |
| 152 | $492.37 | $172.01 | $320.36 | $45,055.71 |
| 153 | $492.37 | $173.23 | $319.14 | $44,882.49 |
| 154 | $492.37 | $174.45 | $317.92 | $44,708.04 |
| 155 | $492.37 | $175.69 | $316.68 | $44,532.35 |
| 156 | $492.37 | $176.93 | $315.44 | $44,355.42 |
| 157 | $492.37 | $178.19 | $314.18 | $44,177.23 |
| 158 | $492.37 | $179.45 | $312.92 | $43,997.78 |
| 159 | $492.37 | $180.72 | $311.65 | $43,817.07 |
| 160 | $492.37 | $182.00 | $310.37 | $43,635.07 |
| 161 | $492.37 | $183.29 | $309.08 | $43,451.78 |
| 162 | $492.37 | $184.59 | $307.78 | $43,267.19 |
| 163 | $492.37 | $185.89 | $306.48 | $43,081.30 |
| 164 | $492.37 | $187.21 | $305.16 | $42,894.09 |
| 165 | $492.37 | $188.54 | $303.83 | $42,705.55 |
| 166 | $492.37 | $189.87 | $302.50 | $42,515.68 |
| 167 | $492.37 | $191.22 | $301.15 | $42,324.46 |
| 168 | $492.37 | $192.57 | $299.80 | $42,131.89 |
| 169 | $492.37 | $193.94 | $298.43 | $41,937.95 |
| 170 | $492.37 | $195.31 | $297.06 | $41,742.65 |
| 171 | $492.37 | $196.69 | $295.68 | $41,545.95 |
| 172 | $492.37 | $198.09 | $294.28 | $41,347.87 |
| 173 | $492.37 | $199.49 | $292.88 | $41,148.38 |
| 174 | $492.37 | $200.90 | $291.47 | $40,947.48 |
| 175 | $492.37 | $202.33 | $290.04 | $40,745.15 |
| 176 | $492.37 | $203.76 | $288.61 | $40,541.39 |
| 177 | $492.37 | $205.20 | $287.17 | $40,336.19 |
| 178 | $492.37 | $206.66 | $285.71 | $40,129.54 |
| 179 | $492.37 | $208.12 | $284.25 | $39,921.42 |
| 180 | $492.37 | $209.59 | $282.78 | $39,711.82 |
| 181 | $492.37 | $211.08 | $281.29 | $39,500.75 |
| 182 | $492.37 | $212.57 | $279.80 | $39,288.17 |
| 183 | $492.37 | $214.08 | $278.29 | $39,074.09 |
| 184 | $492.37 | $215.59 | $276.77 | $38,858.50 |
| 185 | $492.37 | $217.12 | $275.25 | $38,641.38 |
| 186 | $492.37 | $218.66 | $273.71 | $38,422.72 |
| 187 | $492.37 | $220.21 | $272.16 | $38,202.51 |
| 188 | $492.37 | $221.77 | $270.60 | $37,980.74 |
| 189 | $492.37 | $223.34 | $269.03 | $37,757.40 |
| 190 | $492.37 | $224.92 | $267.45 | $37,532.48 |
| 191 | $492.37 | $226.51 | $265.86 | $37,305.96 |
| 192 | $492.37 | $228.12 | $264.25 | $37,077.84 |
| 193 | $492.37 | $229.74 | $262.63 | $36,848.11 |
| 194 | $492.37 | $231.36 | $261.01 | $36,616.75 |
| 195 | $492.37 | $233.00 | $259.37 | $36,383.75 |
| 196 | $492.37 | $234.65 | $257.72 | $36,149.09 |
| 197 | $492.37 | $236.31 | $256.06 | $35,912.78 |
| 198 | $492.37 | $237.99 | $254.38 | $35,674.79 |
| 199 | $492.37 | $239.67 | $252.70 | $35,435.12 |
| 200 | $492.37 | $241.37 | $251.00 | $35,193.75 |
| 201 | $492.37 | $243.08 | $249.29 | $34,950.67 |
| 202 | $492.37 | $244.80 | $247.57 | $34,705.87 |
| 203 | $492.37 | $246.54 | $245.83 | $34,459.33 |
| 204 | $492.37 | $248.28 | $244.09 | $34,211.05 |
| 205 | $492.37 | $250.04 | $242.33 | $33,961.00 |
| 206 | $492.37 | $251.81 | $240.56 | $33,709.19 |
| 207 | $492.37 | $253.60 | $238.77 | $33,455.60 |
| 208 | $492.37 | $255.39 | $236.98 | $33,200.20 |
| 209 | $492.37 | $257.20 | $235.17 | $32,943.00 |
| 210 | $492.37 | $259.02 | $233.35 | $32,683.98 |
| 211 | $492.37 | $260.86 | $231.51 | $32,423.12 |
| 212 | $492.37 | $262.71 | $229.66 | $32,160.41 |
| 213 | $492.37 | $264.57 | $227.80 | $31,895.85 |
| 214 | $492.37 | $266.44 | $225.93 | $31,629.41 |
| 215 | $492.37 | $268.33 | $224.04 | $31,361.08 |
| 216 | $492.37 | $270.23 | $222.14 | $31,090.85 |
| 217 | $492.37 | $272.14 | $220.23 | $30,818.71 |
| 218 | $492.37 | $274.07 | $218.30 | $30,544.64 |
| 219 | $492.37 | $276.01 | $216.36 | $30,268.62 |
| 220 | $492.37 | $277.97 | $214.40 | $29,990.66 |
| 221 | $492.37 | $279.94 | $212.43 | $29,710.72 |
| 222 | $492.37 | $281.92 | $210.45 | $29,428.80 |
| 223 | $492.37 | $283.92 | $208.45 | $29,144.89 |
| 224 | $492.37 | $285.93 | $206.44 | $28,858.96 |
| 225 | $492.37 | $287.95 | $204.42 | $28,571.01 |
| 226 | $492.37 | $289.99 | $202.38 | $28,281.02 |
| 227 | $492.37 | $292.05 | $200.32 | $27,988.97 |
| 228 | $492.37 | $294.11 | $198.26 | $27,694.85 |
| 229 | $492.37 | $296.20 | $196.17 | $27,398.66 |
| 230 | $492.37 | $298.30 | $194.07 | $27,100.36 |
| 231 | $492.37 | $300.41 | $191.96 | $26,799.95 |
| 232 | $492.37 | $302.54 | $189.83 | $26,497.42 |
| 233 | $492.37 | $304.68 | $187.69 | $26,192.74 |
| 234 | $492.37 | $306.84 | $185.53 | $25,885.90 |
| 235 | $492.37 | $309.01 | $183.36 | $25,576.89 |
| 236 | $492.37 | $311.20 | $181.17 | $25,265.69 |
| 237 | $492.37 | $313.40 | $178.97 | $24,952.28 |
| 238 | $492.37 | $315.62 | $176.75 | $24,636.66 |
| 239 | $492.37 | $317.86 | $174.51 | $24,318.80 |
| 240 | $492.37 | $320.11 | $172.26 | $23,998.69 |
| 241 | $492.37 | $322.38 | $169.99 | $23,676.31 |
| 242 | $492.37 | $324.66 | $167.71 | $23,351.64 |
| 243 | $492.37 | $326.96 | $165.41 | $23,024.68 |
| 244 | $492.37 | $329.28 | $163.09 | $22,695.40 |
| 245 | $492.37 | $331.61 | $160.76 | $22,363.79 |
| 246 | $492.37 | $333.96 | $158.41 | $22,029.83 |
| 247 | $492.37 | $336.33 | $156.04 | $21,693.51 |
| 248 | $492.37 | $338.71 | $153.66 | $21,354.80 |
| 249 | $492.37 | $341.11 | $151.26 | $21,013.69 |
| 250 | $492.37 | $343.52 | $148.85 | $20,670.17 |
| 251 | $492.37 | $345.96 | $146.41 | $20,324.21 |
| 252 | $492.37 | $348.41 | $143.96 | $19,975.81 |
| 253 | $492.37 | $350.87 | $141.50 | $19,624.93 |
| 254 | $492.37 | $353.36 | $139.01 | $19,271.57 |
| 255 | $492.37 | $355.86 | $136.51 | $18,915.71 |
| 256 | $492.37 | $358.38 | $133.99 | $18,557.33 |
| 257 | $492.37 | $360.92 | $131.45 | $18,196.41 |
| 258 | $492.37 | $363.48 | $128.89 | $17,832.93 |
| 259 | $492.37 | $366.05 | $126.32 | $17,466.87 |
| 260 | $492.37 | $368.65 | $123.72 | $17,098.23 |
| 261 | $492.37 | $371.26 | $121.11 | $16,726.97 |
| 262 | $492.37 | $373.89 | $118.48 | $16,353.08 |
| 263 | $492.37 | $376.54 | $115.83 | $15,976.55 |
| 264 | $492.37 | $379.20 | $113.17 | $15,597.35 |
| 265 | $492.37 | $381.89 | $110.48 | $15,215.46 |
| 266 | $492.37 | $384.59 | $107.78 | $14,830.86 |
| 267 | $492.37 | $387.32 | $105.05 | $14,443.55 |
| 268 | $492.37 | $390.06 | $102.31 | $14,053.48 |
| 269 | $492.37 | $392.82 | $99.55 | $13,660.66 |
| 270 | $492.37 | $395.61 | $96.76 | $13,265.05 |
| 271 | $492.37 | $398.41 | $93.96 | $12,866.64 |
| 272 | $492.37 | $401.23 | $91.14 | $12,465.41 |
| 273 | $492.37 | $404.07 | $88.30 | $12,061.34 |
| 274 | $492.37 | $406.94 | $85.43 | $11,654.40 |
| 275 | $492.37 | $409.82 | $82.55 | $11,244.59 |
| 276 | $492.37 | $412.72 | $79.65 | $10,831.87 |
| 277 | $492.37 | $415.64 | $76.73 | $10,416.22 |
| 278 | $492.37 | $418.59 | $73.78 | $9,997.63 |
| 279 | $492.37 | $421.55 | $70.82 | $9,576.08 |
| 280 | $492.37 | $424.54 | $67.83 | $9,151.54 |
| 281 | $492.37 | $427.55 | $64.82 | $8,723.99 |
| 282 | $492.37 | $430.57 | $61.79 | $8,293.42 |
| 283 | $492.37 | $433.62 | $58.75 | $7,859.80 |
| 284 | $492.37 | $436.70 | $55.67 | $7,423.10 |
| 285 | $492.37 | $439.79 | $52.58 | $6,983.31 |
| 286 | $492.37 | $442.90 | $49.47 | $6,540.41 |
| 287 | $492.37 | $446.04 | $46.33 | $6,094.36 |
| 288 | $492.37 | $449.20 | $43.17 | $5,645.16 |
| 289 | $492.37 | $452.38 | $39.99 | $5,192.78 |
| 290 | $492.37 | $455.59 | $36.78 | $4,737.19 |
| 291 | $492.37 | $458.81 | $33.56 | $4,278.38 |
| 292 | $492.37 | $462.06 | $30.31 | $3,816.31 |
| 293 | $492.37 | $465.34 | $27.03 | $3,350.97 |
| 294 | $492.37 | $468.63 | $23.74 | $2,882.34 |
| 295 | $492.37 | $471.95 | $20.42 | $2,410.39 |
| 296 | $492.37 | $475.30 | $17.07 | $1,935.09 |
| 297 | $492.37 | $478.66 | $13.71 | $1,456.43 |
| 298 | $492.37 | $482.05 | $10.32 | $974.37 |
| 299 | $492.37 | $485.47 | $6.90 | $488.91 |
| 300 | $492.37 | $488.91 | $3.46 | $0.00 |
| Year | End Date | Principal Paid | Interest Paid | Balance |
|---|---|---|---|---|
| 1 | Aug 2027 | $0.00 | $4,250.04 | $50,000.00 |
| 2 | Aug 2028 | $0.00 | $4,250.04 | $50,000.00 |
| 3 | Aug 2029 | $0.00 | $4,250.04 | $50,000.00 |
| 4 | Aug 2030 | $0.00 | $4,250.04 | $50,000.00 |
| 5 | Aug 2031 | $0.00 | $4,250.04 | $50,000.00 |
| 6 | Aug 2032 | $0.00 | $4,250.04 | $50,000.00 |
| 7 | Aug 2033 | $0.00 | $4,250.04 | $50,000.00 |
| 8 | Aug 2034 | $0.00 | $4,250.04 | $50,000.00 |
| 9 | Aug 2035 | $0.00 | $4,250.04 | $50,000.00 |
| 10 | Aug 2036 | $0.00 | $4,250.04 | $50,000.00 |
| 11 | Aug 2037 | $1,724.60 | $4,183.84 | $48,275.40 |
| 12 | Aug 2038 | $1,877.04 | $4,031.40 | $46,398.37 |
| 13 | Aug 2039 | $2,042.95 | $3,865.49 | $44,355.42 |
| 14 | Aug 2040 | $2,223.53 | $3,684.91 | $42,131.89 |
| 15 | Aug 2041 | $2,420.07 | $3,488.37 | $39,711.82 |
| 16 | Aug 2042 | $2,633.98 | $3,274.46 | $37,077.84 |
| 17 | Aug 2043 | $2,866.80 | $3,041.64 | $34,211.05 |
| 18 | Aug 2044 | $3,120.20 | $2,788.24 | $31,090.85 |
| 19 | Aug 2045 | $3,395.99 | $2,512.44 | $27,694.85 |
| 20 | Aug 2046 | $3,696.17 | $2,212.27 | $23,998.69 |
| 21 | Aug 2047 | $4,022.88 | $1,885.56 | $19,975.81 |
| 22 | Aug 2048 | $4,378.46 | $1,529.97 | $15,597.35 |
| 23 | Aug 2049 | $4,765.48 | $1,142.96 | $10,831.87 |
| 24 | Aug 2050 | $5,186.70 | $721.73 | $5,645.16 |
| 25 | Aug 2051 | $5,645.16 | $263.28 | $0.00 |
How HELOC Payments Are Calculated
During the draw period, most HELOCs charge interest-only payments on the drawn balance — the principal doesn't go down unless you voluntarily pay more than the minimum. The formula is simple:
Once the draw period ends, the line converts to a standard amortizing loan over the repayment period, using the same formula as a mortgage or home equity loan:
- M — repayment-period monthly payment
- P — balance outstanding when the draw period ends
- r — monthly interest rate during repayment
- n — number of repayment-period months
The "Payment Shock" at the End of the Draw Period
The single biggest risk with a HELOC is underestimating how much the payment jumps once the draw period ends. Paying only interest on $50,000 at 8.5% costs about $354/month — but amortizing that same $50,000 over 15 years at 8.5% costs about $492/month, a roughly 39% increase, even before accounting for any rate changes. Borrowers who plan to carry a balance into the repayment period should budget for this jump well in advance.
Variable Rates and Combined Loan-to-Value
Almost all HELOCs carry a variable interest rate, usually the prime rate plus a margin that depends on your credit profile — so your actual payment can rise or fall over time in ways this calculator (which assumes a fixed rate for simplicity) cannot predict. Lenders also cap how large your credit line can be using combined loan-to-value (CLTV): existing mortgage balance plus the new credit line, divided by your home's value, commonly capped at 80% to 90%.
HELOC vs. Home Equity Loan
A HELOC works best for ongoing or uncertain expenses — home renovations spread over time, tuition paid annually, or an emergency fund you hope not to use — because you only pay interest on what you actually draw. A home equity loan is better when you know the exact amount you need up front and want the payment certainty of a fixed rate from day one.
Example — Your Current Inputs
Drawing $50,000 from a $50,000 credit line, the interest-only payment during the 10-year draw period at 8.5% is $354.17/month. Once repayment begins in Aug 2036, the balance amortizes over 15 years at 8.5%, for a payment of $492.37/month. Total interest over both phases is about $81,127.
Additional Example — Home Renovation
A homeowner opens a $75,000 HELOC to renovate their kitchen in phases over several years, ultimately drawing $60,000. During the 10-year draw period at 8.5%, the interest-only payment is about $425/month. When the 15-year repayment period begins, the payment rises to about $591/month as the balance starts amortizing — a jump worth planning for years in advance.
About These Parameters
- Home's Current Value & Existing Mortgage Balance
- Together with your lender's max combined LTV, these determine how large a credit line you can typically qualify for.
- Credit Line Limit vs. Amount Drawn
- The limit is the maximum you're approved to borrow; the amount drawn is what you actually withdraw and pay interest on. These can differ — many borrowers open a larger line than they immediately use.
- Draw Period & Draw-Period Rate
- The years you can borrow and repay funds, usually with interest-only minimum payments. Commonly 5 to 10 years, at a variable rate.
- Repayment Period & Repayment-Period Rate
- Once the draw period closes, the outstanding balance amortizes over this many years. Since rates are variable, consider testing a higher repayment-period rate for a conservative estimate.
Frequently Asked Questions
What happens when the HELOC draw period ends?
The line closes to further draws, and whatever balance remains begins amortizing into fixed principal-and-interest payments over the repayment period — typically causing a noticeable payment increase compared to the interest-only draw period.
Is HELOC interest tax-deductible?
In the US, it can be, but only when funds are used to "buy, build, or substantially improve" the home securing the line — not for other purposes like debt consolidation or tuition. Consult a tax professional about your specific situation.
Can I pay down and re-borrow during the draw period?
Yes — that's the defining feature of a HELOC. Like a credit card, paying down the balance during the draw period frees up available credit you can draw again, up to your approved limit.
Why is my HELOC rate variable?
Most HELOCs are priced as the prime rate plus a margin set by your credit profile, so your payment can rise or fall as the prime rate moves — unlike a fixed-rate home equity loan. Some lenders offer a fixed-rate conversion option on part of the balance.