Calculate your available HELOC amount based on home equity, then estimate payments during the draw period (interest-only) and repayment period (principal + interest). Compare different draw amounts and see the full amortization schedule.
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Most lenders allow a combined loan-to-value (CLTV) ratio of 80-85%. So if your home is worth $400,000 and you owe $250,000, your available equity is $400,000 × 85% - $250,000 = $90,000.
A HELOC has two phases: a draw period (typically 10 years) where you can borrow and make interest-only payments, and a repayment period (typically 20 years) where you pay principal plus interest on the outstanding balance.
HELOC rates are typically variable, based on the prime rate plus a margin. As of 2024, rates range from 8-10% depending on credit score and LTV ratio. Some lenders offer fixed-rate conversion options.
Using the HELOC Calculator is simple: visit the tool page, enter your data or input into the provided fields, and get instant results. No downloads, installations, or sign-ups are required. The tool runs directly in your web browser for maximum convenience.
Yes, the HELOC Calculator is 100% free to use with no limitations. There is no registration required, no daily usage caps, and no hidden fees. You can use it as many times as you need.
The HELOC Calculator uses industry-standard formulas and algorithms to deliver reliable results. While the tool is designed for accuracy, results should be used as estimates and guidance. For critical decisions, always consult a qualified professional.
Yes, after running your calculation you can copy the results to your clipboard or take a screenshot. The HELOC Calculator displays a detailed breakdown so you can easily record or share your numbers. No account is required to use or save results.
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Calculate your available HELOC amount based on home equity, then estimate payments during the draw period (interest-only) and repayment period (principal + interest). Compare different draw amounts and see the full amortization schedule.
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Leave blank to use max: $90,000.00
Home Equity
$150,000
Max HELOC Amount
$90,000
Total Interest
$173,950
Total Cost
$263,950
Draw Period (10 years)
Interest-Only Payments
$637.50
per month
Repayment Period (20 years)
Principal + Interest Payments
$781.04
per month
| Draw Amount | Draw Payment | Repay Payment | Total Interest | Total Cost |
|---|---|---|---|---|
| $22,500(25%) | $159.38 | $195.26 | $43,487.45 | $65,987.45 |
| $45,000(50%) | $318.75 | $390.52 | $86,974.91 | $131,974.91 |
| $67,500(75%) | $478.13 | $585.78 | $130,462.36 | $197,962.36 |
| $90,000(100%) | $637.50 | $781.04 | $173,949.82 | $263,949.82 |
| Year | Phase | Payments | Principal | Interest | Balance |
|---|---|---|---|---|---|
| Year 1 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 2 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 3 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 4 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 5 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 6 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 7 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 8 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 9 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 10 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 11 | Repayment | $9,372.49 | $1,791.21 | $7,581.28 | $88,208.79 |
| Year 12 | Repayment | $9,372.49 | $1,949.53 | $7,422.96 | $86,259.26 |
| Year 13 | Repayment | $9,372.49 | $2,121.85 | $7,250.64 | $84,137.41 |
| Year 14 | Repayment | $9,372.49 | $2,309.41 | $7,063.08 | $81,828.00 |
| Year 15 | Repayment | $9,372.49 | $2,513.54 | $6,858.95 | $79,314.46 |
| Year 16 | Repayment | $9,372.49 | $2,735.71 | $6,636.78 | $76,578.75 |
| Year 17 | Repayment | $9,372.49 | $2,977.52 | $6,394.97 | $73,601.23 |
| Year 18 | Repayment | $9,372.49 | $3,240.71 | $6,131.78 | $70,360.52 |
| Year 19 | Repayment | $9,372.49 | $3,527.16 | $5,845.33 | $66,833.37 |
| Year 20 | Repayment | $9,372.49 | $3,838.93 | $5,533.56 | $62,994.44 |
| Year 21 | Repayment | $9,372.49 | $4,178.25 | $5,194.24 | $58,816.19 |
| Year 22 | Repayment | $9,372.49 | $4,547.57 | $4,824.92 | $54,268.62 |
| Year 23 | Repayment | $9,372.49 | $4,949.54 | $4,422.96 | $49,319.08 |
| Year 24 | Repayment | $9,372.49 | $5,387.03 | $3,985.46 | $43,932.05 |
| Year 25 | Repayment | $9,372.49 | $5,863.19 | $3,509.30 | $38,068.86 |
| Year 26 | Repayment | $9,372.49 | $6,381.45 | $2,991.04 | $31,687.41 |
| Year 27 | Repayment | $9,372.49 | $6,945.51 | $2,426.98 | $24,741.90 |
| Year 28 | Repayment | $9,372.49 | $7,559.43 | $1,813.06 | $17,182.47 |
| Year 29 | Repayment | $9,372.49 | $8,227.61 | $1,144.88 | $8,954.86 |
| Year 30 | Repayment | $9,372.49 | $8,954.86 | $417.63 | $0.00 |
Draw Period (10 years)
During the draw period, you can borrow up to your credit limit and only pay interest on the amount you have drawn. Your minimum payment is interest-only, meaning your balance does not decrease unless you make extra principal payments.
Repayment Period (20 years)
After the draw period ends, you can no longer borrow. Your payments now include both principal and interest, and the payment amount will be higher than during the draw period. The balance is fully amortized over the repayment period.
LTV (Loan-to-Value)
Most lenders allow a maximum combined LTV of 80-90%. With a 85% max LTV, your combined mortgage + HELOC cannot exceed $340,000 on a home valued at $400,000.