Calculate your home equity line of credit payments instantly. Get accurate monthly payment estimates, interest costs, and repayment schedules in seconds.
Free Home Equity Line of Credit (HELOC) Payment Calculator
Monthly Payment
Total Payment
Total Interest Paid
Total Savings
Payoff Time
Payment Breakdown
| Year | Principal | Interest | Extra | Balance |
|---|---|---|---|---|
| 1 | $1,234.56 | $6,789.01 | $1,200.00 | $148,765.44 |
| 2 | $1,543.21 | $6,480.36 | $1,200.00 | $147,222.23 |
| 3 | $1,876.54 | $6,147.03 | $1,200.00 | $145,345.69 |
| 4 | $2,234.56 | $5,789.01 | $1,200.00 | $143,111.13 |
| 5 | $2,619.75 | $5,403.82 | $1,200.00 | $140,491.38 |
Why Use Our HELOC Calculator?
Our home equity line of credit calculator provides the most accurate payment estimates using bank-level formulas
Bank-Level Accuracy
Uses official amortization formulas for precise HELOC payment calculations
Instant Results
Get your HELOC monthly payment estimate in real-time as you adjust inputs
No Personal Info
Calculate HELOC payments without providing personal or financial information
Mobile Friendly
Calculate HELOC payments on any device with our responsive design
How to Use the HELOC Payment Calculator
Calculate your home equity line of credit payments in 3 simple steps
Enter HELOC Amount
Input your desired home equity line of credit amount, typically $10,000 to $500,000
Set Interest Rate
Enter your current or expected HELOC interest rate (typically 3% to 15%)
Choose Repayment Term
Select your repayment period (5-30 years) to see monthly HELOC payment results
Understanding HELOC Payments
Draw Period
- Typically 5-10 years
- Interest-only payments often allowed
- Access funds as needed
- Variable interest rates common
Repayment Period
- Usually 10-20 years
- Principal + interest payments
- No additional borrowing
- Fixed payment schedule
HELOC Payment Calculator (FAQ)
Common questions about calculating home equity line of credit payments
What is the monthly payment on a $50,000 HELOC?
For a $50,000 HELOC at 7.25% over 15 years, the monthly payment would be approximately $302. Interest-only payments during the draw period would be around $302 per month.
How accurate is this HELOC payment calculator?
Our calculator uses standard amortization formulas and provides results accurate within 1-2% of actual bank calculations. Final payments may vary based on lender fees and exact rate terms.
What's the difference between HELOC and home equity loan payments?
HELOCs typically have variable rates and flexible draw periods with interest-only options. Home equity loans offer fixed rates and set payment schedules. Our calculator works for both scenarios.
Can I use this for interest-only HELOC payments?
Yes! Check the “Interest-Only Payment” option to calculate payments during the draw period when you only pay interest on the outstanding balance.
How do variable rates affect HELOC payments?
Variable rates can change your monthly payment. Use our calculator to test different rate scenarios and see how rate changes impact your HELOC payments.
Are HELOC interest payments tax deductible?
HELOC interest may be tax-deductible if used for home improvements. Consult a tax professional for advice about your situation and current tax laws.
Ready to Calculate Your HELOC Payment?
Get instant, accurate estimates for your home equity line of credit payments