About this calculator
A HELOC gives homeowners access to equity without selling, but the repayment mechanics are more complex than a standard mortgage. Our HELOC calculator walks through the draw period, transition to repayment, and total interest cost so borrowers know exactly what they're committing to.
What it shows you
- Monthly payment during the draw period: interest-only, a percent of the balance, or a fixed amount
- Principal-plus-interest payment in the repayment phase
- The payment jump when repayment begins
- Total interest and total cost over the full life of the line
- Balance over time and a full amortization schedule
What you'll enter
- Credit line balance and interest rate
- Draw period and repayment period, in years
- How you pay during the draw: interest only, a percent of the balance, or a fixed amount
When to use it
- You plan to draw on a HELOC and want to know the payments
- Preparing for the payment jump when the draw period ends
- Comparing interest-only payments with paying down principal during the draw
Why it matters
Many borrowers experience "payment shock" when a HELOC's draw period ends and principal repayment begins. Showing clients the full repayment picture upfront prevents surprises and builds trust.
Read the guide
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