HELOC Loan Calculator
Enter loan details below and click Calculate.
Results
Draw Payment: -
Repay Payment: -
Total Interest: -
Payoff Time: -
| # | Phase | Payment | Interest | Principal | Balance |
|---|
How to Use the HELOC Loan Calculator
If you’re considering a Home Equity Line of Credit (HELOC), one of the most important things you need to understand is how the payments will look over time. A HELOC works differently from a traditional mortgage because it has two phases: the draw period (when you can borrow and usually pay interest only) and the repayment period (when the balance is amortized like a loan). Our HELOC Loan Calculator makes it simple to visualize these phases, estimate monthly payments, and even download an amortization schedule you can study offline.
Entering Your Information
The calculator has a few key fields you’ll want to fill in:
- Credit Limit – the maximum line of credit available to you.
- Current Balance (Amount Drawn) – how much you’ve borrowed so far.
- APR (Annual Percentage Rate) – your loan’s interest rate.
- Draw Period (Years) – how long you can make interest-only payments.
- Repayment Period (Years) – the time over which you’ll pay back the balance.
- Extra Monthly Payment – optional, if you want to see the impact of paying more toward principal each month.
After filling these out, click Calculate.
Understanding the Results
The calculator will display four main key performance indicators (KPIs):
- Estimated Payment (Draw) – what you’ll pay monthly during the draw phase.
- Estimated Payment (Repay) – your projected monthly payment once the repayment phase starts.
- Total Interest – the cumulative interest you’ll pay over the life of the HELOC.
- Payoff Time – how many months it will take to fully repay the balance.
Below the KPIs, you’ll see a dynamic chart that shows your balance declining over time, making it easy to visualize how quickly (or slowly) the debt decreases.
Amortization Table and CSV Export
The calculator also generates a full amortization table, month by month.
Why This Matters
By playing with different inputs—like changing your extra monthly payment—you can instantly see how small changes impact interest paid and payoff time. This makes it an excellent tool for financial planning and comparing scenarios before committing to a HELOC.