HELOC Calculator
Calculate your Home Equity Line of Credit availability, payments, and interest costs. Understand your borrowing options based on your home's equity.
Advertisement
Home Information
Most lenders allow 80-90% LTV
HELOC Terms
Period where you can draw funds (interest-only)
Home Equity Available
Home Value:$500,000
Mortgage Balance:-$300,000
Total Equity:$200,000
HELOC Credit Limit
Available Credit:$100,000
Your Request:$100,000
✓ Approved amount available
Draw Period (10 years)
Monthly Payment (Interest-Only):$354
Total Interest:$42,500
Repayment Period (20 years)
Monthly Payment (P&I):$434
Total Interest:$54,139
Total Cost
Total Interest Over Full Term:$96,639
Understanding HELOCs
What is a HELOC?
A Home Equity Line of Credit is a revolving credit line secured by your home's equity. You can draw funds as needed during the draw period and pay only interest on what you use.
Draw vs. Repayment Periods
During the draw period, you make interest-only payments. After the draw period ends, you enter the repayment period where you pay principal and interest until the debt is paid off.