HELOC Payment Calculator
Estimate HELOC payments in both phases: interest-only during the draw period, then fully amortized repayment.
Interest-only payment (draw period)
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Repayment-phase payment —
Total interest in repayment —
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How it works
Draw period: balance × rate/12; repayment: standard amortization over the repay termFrequently Asked Questions
How do HELOC payments work?
Most HELOCs have a 10-year draw period with interest-only minimums, then a 10–20 year repayment period where the balance amortizes. The payment jump at that switch surprises many borrowers — this calculator shows both numbers.
Why did my HELOC payment change?
HELOC rates are variable, usually prime plus a margin, so payments move with the Federal Reserve. Ending the draw period also converts payments from interest-only to principal-and-interest.
How much can I borrow on a HELOC?
Lenders typically allow combined borrowing (mortgage + HELOC) up to 80–85% of home value. Use our home equity calculator to find your available equity first.