HELOC Calculator
Calculate your Home Equity Line of Credit payments, total interest, and repayment schedule. Understand your borrowing costs and make informed financial decisions.
Step 1: Loan Details
Understanding HELOCs
A Home Equity Line of Credit (HELOC) allows you to borrow against your home’s equity. Most HELOCs have a draw period (interest-only payments) followed by a repayment period.
Step 2: Additional Options
About HELOC Calculations
This calculator estimates your HELOC payments based on the information provided. Actual terms may vary by lender. Interest rates on HELOCs are typically variable.
HELOC Payment Results
Estimated Monthly Payment
Amortization Schedule (First 5 Years)
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|
Payment Breakdown
HELOC Payment Formula
Monthly Payment = [P × r × (1 + r)^n] ÷ [(1 + r)^n – 1]
Where P = principal loan amount, r = monthly interest rate (annual rate ÷ 12), n = total number of payments (years × 12). For interest-only payments during draw period: Payment = P × r.
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