HELOC Calculator

Calculate your home equity line of credit availability and payments.

Home & Equity Details

Home Value$500,000

$100,000$2,000,000

Current Mortgage Balance$300,000

$0$450,000

Credit Score Range

HELOC Details

Desired Draw Amount$50,000

$10,000$100,000

Interest Rate (Variable)8.50%

4.00%15.00%

Draw Period (years)

Repayment Period (years)

Interest-only payments during draw period

Your Available Credit

Maximum HELOC Amount$100,000

Current LTV60%Loan-to-value ratio

Max LTV Allowed80%Based on credit score

You have $100,000 in available home equity. With your credit score, lenders typically allow up to 80% combined loan-to-value.

Monthly Payments

Draw Period Payment$179Interest only

Repayment Period Payment$434Fully amortizing

Total Cost of HELOC

Amount Borrowed$50,000

Total Interest$75,566

Draw Period Interest$21,427

Repayment Interest$54,139

Total Cost$125,566Principal + All Interest

Home Equity Breakdown

Available Credit

$100,000

Mortgage Balance

$300,000

Remaining Equity

$100,000

Interest Cost by Period

Draw Period Interest

$21,427

Repayment Interest

$54,139

First Year Payment Schedule

Month	Phase	Payment	Principal	Interest	Balance
1	draw	$3	$0	$3	$417
2	draw	$6	$0	$6	$833
3	draw	$9	$0	$9	$1,250
4	draw	$12	$0	$12	$1,667
5	draw	$15	$0	$15	$2,083
6	draw	$18	$0	$18	$2,500
7	draw	$21	$0	$21	$2,917
8	draw	$24	$0	$24	$3,333
9	draw	$27	$0	$27	$3,750
10	draw	$30	$0	$30	$4,167
11	draw	$32	$0	$32	$4,583
12	draw	$35	$0	$35	$5,000

Understanding Home Equity Lines of Credit

A HELOC lets you borrow against your home's equity with flexible access to funds

How a HELOC Works

Draw Period (5-10 years)

Borrow money as needed up to your credit limit. Often interest-only payments.

Repayment Period (10-20 years)

Can no longer borrow. Must pay back principal plus interest over remaining term.

Variable Interest Rate

Most HELOCs have variable rates tied to prime. Rates can go up or down.

Best Uses for a HELOC

✓Home improvements that add value
✓Debt consolidation at lower rates
✓Emergency fund access
✗Avoid using for vacations or luxury purchases
✗Don't use to cover daily expenses

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Disclaimer

This calculator is provided for informational purposes only. The results are estimates based on the information you provide. Always consult with a qualified financial professional before making important financial decisions.

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