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HELOC Payment Calculator
Estimate your HELOC payments during both the interest-only draw period and the full repayment phase. Enter your balance, rate, and terms to plan ahead.
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How This Calculator Works
A HELOC has two phases: a draw period (typically 10 years) with interest-only payments, and a repayment period (typically 20 years) with fully amortizing payments.
Formula: Interest-Only = Balance × Monthly Rate. Repayment Payment = standard amortization formula using the remaining balance and repayment term.
Assumptions & Limitations
- • Balance remains constant through the draw period.
- • Interest rate is variable but shown at a fixed point-in-time rate.
- • Does not account for additional draws or paydowns during the draw period.