Heloc Loan Calculator
Calculate your Home Equity Line of Credit (HELOC) monthly payments, total interest, and amortization schedule based on your home value, loan amount, draw period, repayment period, and interest rate.
Published by:
isCalculator Editorial Team
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How to use this tool?
This calculator estimates your monthly HELOC payments during both the draw and repayment periods.
- Enter Home Value — Your property's current market value (e.g., 300000).
- Enter Loan Amount — Your approved credit limit (e.g., 50000).
- Set Draw Period — Years you can borrow (typically 5–10).
- Set Repayment Period — Years to repay after draw ends (typically 10–20).
- Enter Annual Interest Rate — As a percentage (e.g., 5.5 for 5.5%).
- Optional: Current Drawn Balance — If you've already borrowed, enter that amount. Leave 0 to assume full loan drawn.
- Click Calculate.
Results show:
- Draw Period Payment — Interest-only monthly amount on your drawn balance.
- Repayment Period Payment — Principal + interest monthly payment.
- Total Interest & Total Paid — Over the full loan life.
All values in USD. The calculator assumes you draw the full loan amount at the start and make no additional draws.
Previous Results
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Frequently Asked Questions
A Home Equity Line of Credit (HELOC) is a revolving credit line secured by your home equity. It typically has a draw period (e.g., 10 years) where you can borrow and repay, followed by a repayment period (e.g., 20 years) where you pay principal and interest.
During the draw period, you pay interest-only on the amount you've drawn. During the repayment period, your payment is calculated to amortize the remaining balance over the repayment term at the current interest rate.
No, this calculator assumes a fixed interest rate for simplicity. Most HELOCs have variable rates, so actual payments may change over time.
