HELOC Calculator
See exactly how much you can borrow against your home equity, what your interest-only draw payments look like, and what the full repayment will cost.
48% of max HELOC
Draw Period Payment
$708.33
Interest-only · for 10 years
Repayment Period Payment
$867.82
Principal + Interest · for 20 years
$210K
85% CLTV
$300K
50% of home value
$193K
66.7% CLTV
$293K
Principal + Interest
Instant Results
See draw and repayment payments update in real time
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Use the calculator without creating an account
Two-Phase Schedule
Models the interest-only draw phase plus full P&I repayment
How to Use This HELOC Calculator
Max HELOC: Your maximum HELOC is the difference between what your lender's CLTV cap allows and your existing mortgage balance.
Draw Period: During the draw phase, you can borrow up to your limit and typically make interest-only payments. Payments rise as you draw more.
Repayment Period: When the draw phase ends, the line closes and the outstanding balance amortizes into fixed monthly principal-and-interest payments.
HELOC vs Home Equity Loan
| Feature | HELOC | Home Equity Loan |
|---|---|---|
| Structure | Revolving line of credit | Lump-sum installment loan |
| Rate Type | Usually variable | Usually fixed |
| Payment Flexibility | Interest-only during draw | Fixed P&I from day one |
| Total Interest | Depends on draws and rate moves | Predictable from origination |
| Best For | Ongoing projects, flexible access to funds | One-time large expense with stable budget |
Frequently Asked Questions
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