acalculator

What will my HELOC payment be?

See how big a home equity line of credit your home supports, what it costs a month while you draw, and how much the payment rises when repayment starts.

Your numbers

Often 80% to 85%. Ask your lender.
An example rate, not today’s rate. Use the rate your lender quotes.
Often 10 years.
Often 20 years.
Payment in the draw period
$354.17

Drawing $50,000.00 at 8.5% costs $354.17 a month in the draw period and $433.91 a month in the repayment period.

Payment in the repayment period
$433.91
Payment rise
$79.74
Credit line
$132,500.00
Credit left unused
$82,500.00
Total interest
$96,638.79
Total paid
$146,638.79
Combined loan-to-value
66.7%
First repayment payment
October 2036
Months
360

Answer for the example date Wednesday, September 30, 2026. It changes to today's date when the page loads.

Payment in the draw period: $354.17. Drawing $50,000.00 at 8.5% costs $354.17 a month in the draw period and $433.91 a month in the repayment period.

Where does each year of payments go?

How does the HELOC balance change?

What does every payment look like?

The results are estimates for information only. They are not financial, tax, or legal advice. Check the numbers with your lender or a qualified professional before you decide. Terms of use

How to calculate

Computes the home equity line of credit a combined loan-to-value limit allows, the interest-only payment in the draw period, and the payment and total interest in the repayment period.

Example with the default inputs (Home value $450,000.00, Mortgage balance $250,000.00, Lender’s limit (combined loan-to-value) 85%, Amount you draw $50,000.00, Interest rate 8.5%, Draw period (years) 10, Repayment period (years) 20, Draw date September 30, 2026) on the example date Wednesday, September 30, 2026: Drawing $50,000.00 at 8.5% costs $354.17 a month in the draw period and $433.91 a month in the repayment period.

Method: credit line = V × limit − owed; draw-period payment = D × r; repayment payment = D × r ÷ (1 − (1 + r)^−R), with D the amount drawn, r the rate ÷ 12, and R the repayment months.

  • You draw the whole amount at the start and borrow nothing more.
  • The rate stays fixed; most HELOCs have a variable rate, so real payments change with it.
  • In the draw period you pay only the interest; the repayment period repays the balance in level monthly payments.
  • Interest is charged monthly at the yearly rate ÷ 12, and nothing is rounded between months.
  • Fees such as appraisal, annual, or closing fees are not included.

Machine-readable copies: Markdown, JSON.

Worked examples

Each example is checked against the calculator on every build.

  1. Home value $450,000.00, Mortgage balance $250,000.00, Lender’s limit (combined loan-to-value) 85%, Amount you draw $50,000.00, Interest rate 8.5%, Draw period (years) 10, Repayment period (years) 20 gives Credit line $132,500.00, Payment in the draw period $354.17, Payment in the repayment period $433.91, Total interest $96,638.79, Combined loan-to-value 66.666667%.Source: CFPB, What you should know about home equity lines of credit: interest-only payments in the draw period, then repayment
  2. Home value $300,000.00, Mortgage balance $150,000.00, Lender’s limit (combined loan-to-value) 80%, Amount you draw $90,000.00, Interest rate 9%, Draw period (years) 5, Repayment period (years) 15, Draw date 2026-10-15 gives Credit line $90,000.00, Credit left unused $0.00, Payment in the draw period $675.00, Payment in the repayment period $912.84, First repayment payment 2031-11-15.
  3. Home value $400,000.00, Mortgage balance $100,000.00, Lender’s limit (combined loan-to-value) 85%, Amount you draw $24,000.00, Interest rate 0%, Draw period (years) 1, Repayment period (years) 10 gives Payment in the draw period $0.00, Payment in the repayment period $200.00, Total interest $0.00, Credit line $240,000.00.

How it works

Write V for the home value, O for what you owe on loans secured by the home, c for the lender's combined loan-to-value limit in percent, D for the amount you draw, r for the yearly rate ÷ 1200 (the monthly rate as a decimal), m for the draw-period months (draw years × 12), and R for the repayment months (repayment years × 12).

  1. Credit line = V × c ÷ 100 − O. If it is 0 or less there is no line, and if D is more than the line there is no answer.
  2. Draw period, payments 1 to m: you pay only the interest, D × r, and the balance stays at D.
  3. Repayment period, payments m + 1 to m + R: the level payment P = D × r ÷ (1 − (1 + r)^−R) repays D over R months (at 0%, P = D ÷ R). Each month, interest = balance × r and principal = P − interest; the last payment clears the balance.
  4. Totals. Total interest is the sum over all payments: m × D × r + R × P − D. The total paid is D + total interest. The payment rise is P − D × r. Credit left unused is the line minus D. The combined loan-to-value after the draw is (O + D) ÷ V × 100.
  5. First repayment payment (with a draw date): payment m + 1, dated m + 1 months after the draw date.

Assumptions

  • You draw the whole amount at the start and borrow nothing more later.
  • The rate stays fixed. Most HELOCs have a variable rate, so real payments change when the rate changes.
  • The plan has a draw period of at least one year with interest-only payments, then level payments; balloon plans are not modeled.
  • Interest is charged monthly at the yearly rate ÷ 12, and nothing is rounded between months.
  • Appraisal, annual, and closing fees are not included. The default rate and limit are examples, not current offers.

Worked examples by hand

A $450,000 home, $250,000 owed, an 85% limit, $50,000 drawn at 8.5%, 10-year draw and 20-year repayment. The line is 450,000 × 0.85 − 250,000 = $132,500. The draw-period payment is 50,000 × 0.085 ÷ 12 = $354.17. With r = 0.00708333 and (1 + r)^−240 = 0.183782, the repayment payment is 50,000 × 0.00708333 ÷ 0.816218 = $433.91. Total interest = 120 × 354.17 + 240 × 433.91 − 50,000 = 42,500.00 + 54,138.79 = $96,638.79. The combined loan-to-value is 300,000 ÷ 450,000 = 66.7%.

A $300,000 home, $150,000 owed, an 80% limit, $90,000 drawn at 9%, 5-year draw and 15-year repayment, drawn October 15, 2026. The line is 300,000 × 0.8 − 150,000 = $90,000, all of it drawn ($0 unused). The draw-period payment is 90,000 × 0.09 ÷ 12 = $675. With r = 0.0075 and (1 + r)^−180 = 0.260549, the repayment payment is 90,000 × 0.0075 ÷ 0.739451 = $912.84. The first repayment payment is payment 61, in November 2031.

$24,000 drawn at 0% with a 1-year draw period and 10-year repayment (a $400,000 home, $100,000 owed, 85% limit, so the line is $240,000). Interest is 0, so the draw-period payment is $0, the repayment payment is 24,000 ÷ 120 = $200, and total interest is $0.

Other questions people ask

How is a HELOC payment calculated?

In the draw period most HELOCs ask only for the interest: the balance times the yearly rate ÷ 12. $50,000 at 8.5% is 50,000 × 0.085 ÷ 12 = $354.17 a month. In the repayment period the balance is repaid in level monthly payments of principal and interest, like a mortgage: $433.91 a month over 20 years.

How much can I borrow with a HELOC?

Lenders usually cap all loans on the home at a percent of its value, often 80% to 85%. The line is the home value times that limit minus what you owe. A $450,000 home with $250,000 owed and an 85% limit gives 450,000 × 0.85 − 250,000 = $132,500.

What is the difference between the draw period and the repayment period?

In the draw period, often 10 years, you can borrow from the line and usually pay only interest. In the repayment period, often 20 years, you can no longer borrow and you repay the balance with interest. Some plans instead end with a balloon payment of the whole balance.

Why can my HELOC payment change?

Most HELOCs have a variable rate tied to an index such as the prime rate, so the payment moves when the rate moves. The payment also rises when the repayment period starts. This page keeps the rate fixed, so try a higher rate to see the risk.

Is a HELOC or a home equity loan better?

A home equity loan gives you one lump sum at a fixed rate and a fixed payment. A HELOC lets you borrow only what you need, when you need it, usually at a variable rate. Pick the loan that matches how you will use the money.

What happens if I cannot repay a HELOC?

A HELOC is secured by your home, so the lender can foreclose if you do not repay. Borrow only what you can repay, including after the payment rises.