Not adviceHELOC Payment Calculator does not provide lending, financial, tax, legal or investment advice, and it is not a lender, broker or loan marketplace. Nothing on this site is an offer of credit or a recommendation to borrow, refinance or buy anything.
Content on helocpaymentcalculator.org, including calculators, tables and articles, is general information for education. It does not take your income, credit, goals or circumstances into account. Before acting, consider talking to a licensed professional, such as a HUD-approved housing counselor, a tax professional, an attorney or a loan officer, who can look at your situation.
Calculators are estimates
Our calculators do arithmetic on the numbers you enter. They cannot check whether a rate, home value, fee or project price is realistic, and a wrong input gives a wrong answer. Real loans differ: lenders round, set minimum payments, charge fees, cap rate changes and draw balances over time in ways a calculator cannot know. The figures that bind you are in the lender's Loan Estimate, Closing Disclosure and HELOC agreement.
Variable rates and your home
A HELOC or adjustable-rate loan can cost more if its index rises, and the payment can rise sharply when an interest-only draw period ends. Home equity loans and HELOCs are secured by your home: if you cannot repay, you could lose it. A lender can freeze or reduce a credit line in some situations, such as a significant decline in your home's value. Home values can fall, leaving you owing more than the home is worth.
Taxes
Tax pages summarize IRS publications as of the date shown on each page. Whether interest is deductible depends on how you use the money, your total mortgage debt and whether you itemize. Ask a tax professional about your return.
Project and solar costs
Cost figures come from the public surveys named on each page, such as the U.S. Census Bureau's American Housing Survey, or from prices you enter. They are national or survey averages, not quotes. Prices in your area, for your house and at the time you hire someone can be very different. Solar savings depend on your utility's rates and export compensation, your roof and weather; production estimates use NREL's PVWatts model and are not guarantees.
Rules and rates change
Interest rates, loan limits, HUD and VA rules, tax law and incentives change. Each page shows its sources and the date it was last updated. Check current terms with the source, your lender or a professional before relying on them.
No relationships
We do not make loans, sell solar systems or home improvement services, and we are not paid by lenders, brokers, installers or contractors. Mentions of agencies or programs are for information only.