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
- Available line of credit based on equity and LTV limit
- Interest-only payment during the draw period
- Principal-plus-interest payment in the repayment phase
- Total interest cost over the full life of the line
- Payoff schedule under different repayment strategies
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.