HELOC Calculator
Calculate heloc from your own entered figures.
Loading calculator…
Currency: Amounts are calculated in the currency you select; this site does not convert between currencies and does not use live exchange rates.
What this tool does
Calculate heloc from your own entered figures. Assumes the full amount is drawn on day one and nothing more is drawn or repaid early, at a constant rate. Real HELOCs reprice monthly and may allow interest-only minimums only during the draw period.
How to use the HELOC Calculator
- Enter or select amount drawn.
- Enter or select variable rate (%).
- Enter or select draw period (years).
- Enter or select repayment period (years).
- Read the calculated result; change any measurement to compare alternatives.
Formula
draw period: monthly payment = drawn balance × rate/1200 (interest only, balance unchanged); repayment period: the drawn balance amortizes over the repayment years at the same rate
- draw
- Amount drawn
- rate
- Variable rate (%)
- drawYears
- Draw period (years)
- repayYears
- Repayment period (years)
Assumes the full amount is drawn on day one and nothing more is drawn or repaid early, at a constant rate. Real HELOCs reprice monthly and may allow interest-only minimums only during the draw period.
Worked example
For heloc calculator, the following measurements illustrate the exact method: Amount drawn: 40000; Variable rate (%): 9; Draw period (years): 10; Repayment period (years): 20.
Inputs
- Amount drawn$40000
- Variable rate (%)9 %
- Draw period (years)10
- Repayment period (years)20
Result
- Monthly payment during draw period (interest only)$300.00
- Monthly payment in repayment period$359.89
- Payment increase at repayment$59.89
- Interest during draw period$36,000.00
- Interest during repayment$46,373.69
- Total interest$82,373.69
Results explained
- Monthly payment during draw period (interest only)
- Monthly payment during draw period (interest only) from the formula above. Assumes the full amount is drawn on day one and nothing more is drawn or repaid early, at a constant rate. Real HELOCs reprice monthly and may allow interest-only minimums only during the draw period.
- Monthly payment in repayment period
- Monthly payment in repayment period from the formula above. Assumes the full amount is drawn on day one and nothing more is drawn or repaid early, at a constant rate. Real HELOCs reprice monthly and may allow interest-only minimums only during the draw period.
- Payment increase at repayment
- Payment increase at repayment from the formula above. Assumes the full amount is drawn on day one and nothing more is drawn or repaid early, at a constant rate. Real HELOCs reprice monthly and may allow interest-only minimums only during the draw period.
- Interest during draw period
- Interest during draw period from the formula above. Assumes the full amount is drawn on day one and nothing more is drawn or repaid early, at a constant rate. Real HELOCs reprice monthly and may allow interest-only minimums only during the draw period.
- Interest during repayment
- Interest during repayment from the formula above. Assumes the full amount is drawn on day one and nothing more is drawn or repaid early, at a constant rate. Real HELOCs reprice monthly and may allow interest-only minimums only during the draw period.
- Total interest
- Total interest from the formula above. Assumes the full amount is drawn on day one and nothing more is drawn or repaid early, at a constant rate. Real HELOCs reprice monthly and may allow interest-only minimums only during the draw period.
Frequently asked questions
draw period: monthly payment = drawn balance × rate/1200 (interest only, balance unchanged); repayment period: the drawn balance amortizes over the repayment years at the same rate
Assumes the full amount is drawn on day one and nothing more is drawn or repaid early, at a constant rate. Real HELOCs reprice monthly and may allow interest-only minimums only during the draw period.
No. All numbers are entered by you or come from the dated reference table shown on this page; calculations run locally.
This is an estimate, not financial, tax or legal advice. Verify the inputs and output with official sources and a qualified professional.
Check period consistency, currency, percentage inputs and the assumptions: Assumes the full amount is drawn on day one and nothing more is drawn or repaid early, at a constant rate. Real HELOCs reprice monthly and may allow interest-only minimums only during the draw period.