HELOC Calculator
Estimate interest-only payments during the draw period and principal-plus-interest during repayment for a Home Equity Line of Credit.
Inputs
Draw-period monthly payment
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Repayment-period monthly
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Total interest (full term)
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Grand total paid
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Credit utilization
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About HELOC Calculator
Watch the payment shock
When the draw period ends, payments often double or triple because you stop paying interest-only and start amortizing. Plan for this shift.
Variable rate
HELOC rates are usually tied to the prime rate. If prime moves up 1 percentage point, your monthly interest cost rises proportionally. Stress test at +2-3%.
Best uses
HELOCs work well for home improvements, emergency reserves, or short-term gap funding. They are risky for long-term debt because of rate variability — and your home is collateral.