HELOC Payment Calculator

Interest-only and full repayment payments on a HELOC.

Outstanding balance ($)

Annual rate %

Draw period (years)

Repay period (years)

Interest-only payment (draw)

$354

per month for 10 years

Repayment payment

$434

/month for 20 years

Interest in draw

$42,500

Lifetime interest

$96,639

HELOCs use a variable rate tied to prime. The draw period typically allows interest-only payments. After it ends, principal and interest amortize over the repay period. The numbers here assume the balance stays flat through the draw period.

About

HELOCs have two phases. During the draw period, you pay interest only. After it ends, the balance amortizes over the repayment period. Enter balance, rate, and the two phase lengths to see both payments and lifetime interest.

How to use

Enter the outstanding balance.
Set the rate and draw period.
Set the repay period.

FAQ

Are HELOC rates fixed?+

Almost always variable, tied to the prime rate. Some lenders let you lock a portion at a fixed rate. Plan for higher payments if rates rise.