HELOC Calculator
Estimate the monthly payment and total interest on a home equity line of credit.
Your details
Monthly payment
$619.93
- Principal$50,000
- Total interest$24,391
- Amount borrowed
- $50,000
- Total interest
- $24,391
- Total repaid
- $74,391
- Repayment period
- 10 years
Payment schedule
How your balance falls year by year.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,316 | $4,123 | $46,684 |
| 2 | $3,610 | $3,830 | $43,074 |
| 3 | $3,929 | $3,511 | $39,146 |
| 4 | $4,276 | $3,163 | $34,870 |
| 5 | $4,654 | $2,785 | $30,216 |
| 6 | $5,065 | $2,374 | $25,151 |
| 7 | $5,513 | $1,926 | $19,638 |
| 8 | $6,000 | $1,439 | $13,638 |
| 9 | $6,530 | $909 | $7,108 |
| 10 | $7,108 | $331 | $0 |
About the heloc calculator
A HELOC lets you borrow against the equity in your home. This calculator estimates the repayment on the amount you draw, based on your interest rate and repayment period.
HELOC rates are usually variable, so your real payment can move with the market. Use this as a baseline and stress-test it against a higher rate to be safe.
Frequently asked questions
How is a HELOC different from a home equity loan?+
A HELOC is a revolving line of credit with a variable rate that you draw from as needed. A home equity loan is a fixed lump sum at a fixed rate. This calculator estimates the repayment phase of either.
How much can I borrow?+
Lenders typically let you borrow up to 80 to 85% of your home's value minus what you still owe on your mortgage.