HELOC Calculator
From credit limit, drawn balance, and APR, estimate interest-only cost or an amortizing payment. Informational, not lending advice and not a line offer.
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How to estimate HELOC payments
- Enter the line limit and how much is currently drawn.
- Enter the APR that applies to the draw.
- Choose interest-only or amortizing repayment.
- For amortizing mode, enter the repayment years.
- Read monthly cost and available credit. Variable rates are not projected.
HELOC payment sketch
Interest-only or amortizing on a draw
| Interest-only | Drawn × (APR/100/12) |
|---|---|
| Amortizing | Standard PMT on drawn balance |
| Available credit | Limit - drawn |
| Further draws | Not projected |
| Rate path | Fixed at the APR you type |
| Advice | Informational. Not lending advice. |
What this HELOC page covers
Home equity lines often charge interest-only during a draw period, then amortize later. This form sketches either mode on the current drawn balance. It does not schedule future draws or rate resets.
Payment formulas
Interest-only monthly = drawn × APR/100/12. Amortizing mode uses standard loan PMT on the drawn balance over repayment years at the monthly rate. Available credit = limit - drawn.
Related pages
Interest-only loans: interest-only. Full amortizing mortgages: mortgage. Refinance break-even: refinance.
Use cases
Rough carry cost on a current draw. Comparing interest-only versus a 10-year payoff sketch. Teaching why available credit shrinks as you draw.
Worked example
$100,000 limit, $40,000 drawn, 8.5% APR, interest-only. Monthly interest ≈ 40000 × 0.085/12. Available credit = $60,000.
Limits
No teaser rates, floors, ceilings, or closing costs. Drawn cannot exceed the limit. Informational, not lending advice. See the disclaimer.