Full HELOC Calculator
Adjust the sliders to model your draw and repayment periods. Click "Show payment schedule" to see yearly snapshots. The estimate is not a lender quote.
$50,000
$5k – $500k
8.50%
Illustrative starting value, not a current quote; enter your lender’s rate
10 yr
Interest-only payments while you can re-draw
20 yr
Principal + interest amortization after the draw period
Your numbers
Draw-period payment (interest only)$354.17 / mo
Repayment-period payment$433.91 / mo
Total interest paid$96,639
Total of all payments$146,639
Estimated payoff dateNov 2056
How to read these numbers
A HELOC has two distinct life stages. The draw period is when you can pull money from the line. Some plans require interest-only payments on the amount borrowed. A repayment period may follow, with principal-and-interest payments. Other structures, including balloon payments, are possible; check your agreement.
Why the second number is bigger
The repayment payment is almost always larger than the draw-period payment, and sometimes by a lot. That jump is often called payment shock. It's the single biggest reason HELOCs go sideways. Run the numbers before you start drawing, not after.
What the calculator assumes
- The entered balance is drawn at the start and stays unchanged during the draw period, with interest-only payments.
- Your APR is constant. Real HELOCs are variable — assume some upside risk.
- The calculation excludes additional draws, extra payments, daily accrual, fees and balloon payments. See the formula and limitations.