HELOC Calculator
Estimate interest-only and repayment HELOC payments.
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About the HELOC Calculator
A HELOC (home equity line of credit) usually has an interest-only draw period followed by a repayment period. Enter the amount drawn, the interest rate, and the repayment term to see both the interest-only payment during the draw and the higher amortized payment once repayment begins — so there are no surprises when the payment jumps.
How to use the HELOC Calculator
- 01Enter your amount drawn, interest rate, and repayment term.
- 02Read the result instantly — it recalculates as you type.
- 03Adjust the numbers to model different scenarios.
Frequently asked questions
Why does my HELOC payment jump?
During the draw period you often pay interest only; when repayment begins you also pay principal, which raises the payment sharply. This tool shows both.
Is a HELOC rate fixed?
Usually variable, tied to the prime rate — so payments can rise if rates increase. Some lenders offer fixed-rate lock options.