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HELOC Payment Calculator

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Estimate HELOC interest-only draw payments and later repayment amounts.

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  • No signup
  • Private & secure
  • Instant results
  • On your device

Private on your device

Your information stays on your device and is not uploaded.

Related tools

Model a revolving home equity line of credit (HELOC): enter limit, amount drawn, rate, draw years, and repayment years to estimate interest-only payments during the draw and amortizing payments afterward. For a fixed home equity loan payment (for example $100,000), use the Home Equity Loan Calculator instead.

HELOCs offer flexible home equity access but variable rates can climb quickly. Payment shock at end of interest-only period catches homeowners who treated lines like permanent low payments.

A fixed home equity loan payment (for example on $100,000) is a different product—use the Home Equity Loan Calculator for that lump-sum amortization.

Interest may be deductible when funds improve home—consult tax rules; personal spending draws lost deductibility after TCJA for many.

Lenders can freeze or reduce lines in housing downturns—do not treat entire limit as guaranteed liquidity.

How to use this tool

Enter your HELOC limit, amount currently drawn, interest rate, draw period (years), and repayment period (years). Review the draw-period interest-only payment, the later amortizing payment, and the total interest estimate. For a fixed $100,000 home equity loan payment, open the Home Equity Loan Calculator.

Worked example

Example: a $40,000 draw on an $80,000 HELOC at 8.5% with a 10-year draw and 20-year repayment costs about $283/month interest-only during the draw, then a higher amortizing payment once repayment begins.

When to use this

  • Estimating HELOC interest-only payments during the draw period.
  • Comparing draw vs repayment phase payments on a revolving line.
  • Stress-testing how a larger draw changes the minimum HELOC payment.

Common mistakes

  • Looking for a fixed $100,000 home equity loan payment on this page—use the Home Equity Loan Calculator for closed-end equity loans.
  • Assuming the interest-only payment lasts for the full HELOC life.
  • Ignoring that variable HELOC rates can change the payment after you calculate.

How it works

Models a typical HELOC with an interest-only draw period followed by an amortizing repayment period. During the draw years you pay interest on the amount drawn; after that the remaining balance is amortized over the repayment term. This is for a revolving home equity line—not a fixed home equity loan payment.

Limitations

Results are estimates for educational purposes and are not financial or tax advice. Actual costs, rates, and rules vary.

Privacy and file handling

Your data stays on your device and is not uploaded.

FAQ

Frequently asked questions

Is this for a $100,000 home equity loan payment?

No. This models a revolving HELOC (interest-only draw, then repayment). For a fixed $100,000 home equity loan payment, use the Home Equity Loan Calculator.

What is a HELOC interest-only payment?

During the draw period, many HELOCs charge interest only on the amount drawn. Enter draw balance and APR to estimate that minimum payment before principal repayment begins.

HELOC vs home equity loan?

A HELOC is a revolving line; a home equity loan is usually a fixed lump sum with a fixed amortizing payment. Use each calculator for the matching product.

Do interest-only payments pay down the balance?

No. Interest-only payments cover interest on the drawn balance. Principal paydown typically starts in the repayment period unless you pay extra.

Are results a loan offer?

No. Figures are educational estimates. HELOC rates are often variable and subject to lender underwriting.

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