HELOC calculator.
Estimate a home equity line of credit from draw period through repayment period. Enter the amount you plan to borrow, interest rate, custom draw and repayment terms, closing costs, annual fees, home value, mortgage balance, and lender CLTV limit to compare monthly payments, total interest, available equity, and the amortization schedule.
Use the HELOC Calculator.
Calculate interest-only draw-period payments, amortized repayment-period payments, total interest, total fees, and estimated HELOC borrowing power. This version also lets you enter your own draw and repayment year terms instead of choosing from preset periods.
Enter HELOC terms
Line amount and rate
Enter the amount you expect to borrow or draw from the credit line, the interest rate, and your custom draw and repayment periods. Many HELOCs allow interest-only payments during the draw period, then require principal repayment later.
Costs and annual fees
Include estimated closing costs and annual fees. Closing costs may be paid upfront, deducted from available funds, or added to the repayment balance depending on lender terms.
Borrowing power check
Estimate borrowing power using your home value, outstanding mortgage balance, and the combined loan-to-value ratio accepted by the lender.
Loan cost mix
Shows the estimated borrowed principal, interest, and fees across the draw and repayment phases.
Borrowing power
Compares allowed combined debt, existing mortgage balance, estimated maximum HELOC line, and remaining credit after the planned draw.
Annual HELOC schedule
Draw years show interest-only cost when applicable. Repayment years show how principal, interest, annual fees, and ending balance change over time.
| Year | Phase | Interest | Principal | Fees | Ending balance |
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About the HELOC Calculator
The HELOC Calculator estimates the cost of a home equity line of credit across two common phases: the draw period and the repayment period. During the draw period, many HELOCs require only interest payments on the balance that has been borrowed. During the repayment period, the remaining balance is usually amortized, which means the payment includes both interest and principal.
This calculator is built around the same core HELOC planning questions borrowers usually need to answer before comparing lender offers: how much will the draw-period payment be, how much could the repayment-period payment be, what will total interest look like, how do closing costs and annual fees affect the total cost, and how much home equity may be available based on CLTV limits.
Draw period
The draw period is the time when you may be able to borrow from the line of credit. If the loan is interest-only during this phase, payments can look low because they do not reduce principal.
Repayment period
The repayment period begins after the draw period ends. The balance is repaid over the selected term, so the payment may increase because principal repayment is added to interest.
Closing costs and annual fees
Some HELOCs have closing costs, origination charges, appraisal costs, annual fees, or maintenance fees. You can model closing costs as paid upfront, deducted from available funds, or financed into the repayment balance.
Borrowing power and CLTV
Combined loan-to-value compares your current mortgage plus the HELOC to the home’s value. Lenders often cap the total combined debt at a percentage such as 80%, 85%, or 90% of home value.
How to use this HELOC calculator
FAQ
Common questions about HELOC draw periods, repayment periods, fees, borrowing power, and amortization.
What does this HELOC calculator estimate?
It estimates draw-period monthly payment, repayment-period monthly payment, total interest, total fees, total paid, available line estimate, borrowing-power comparison, and an annual amortization schedule.
What is the draw period on a HELOC?
The draw period is the time when the borrower may be able to access funds from the credit line. Many HELOCs require interest-only payments during this phase, so the payment may not reduce the principal balance.
What is the repayment period?
The repayment period begins after the draw period ends. The outstanding balance is repaid over time, usually with payments that include both principal and interest.
Why can the repayment payment be higher than the draw payment?
The draw payment may be interest-only, while the repayment payment amortizes the balance. Adding principal repayment can make the monthly payment increase even if the rate stays the same.
How does the calculator estimate borrowing power?
It multiplies home value by the selected combined loan-to-value limit, then subtracts the current mortgage balance. The result is an estimate of the maximum HELOC line before lender-specific adjustments.
What is combined loan-to-value, or CLTV?
CLTV compares all loans secured by the home to the home’s value. For example, an existing mortgage plus a HELOC divided by home value equals the combined loan-to-value ratio.
Should I include closing costs and annual fees?
Yes. Fees can change the true cost of a HELOC. The calculator lets you include closing costs, annual fees, and whether closing costs are paid upfront, deducted from the line, or financed.
Does this calculator handle variable rates?
The calculation uses the interest rate you enter as a constant rate. Many HELOCs are variable-rate products, so actual payments can rise or fall if the rate changes.
Is the amortization schedule exact?
It is an estimate based on the inputs and assumptions on the page. Actual lender schedules can differ because of billing cycles, rate changes, minimum payments, fees, draws, and repayment rules.
Is this financial advice?
No. This calculator is for education and planning. Review lender disclosures, rates, terms, fees, and risks before opening or using a home equity line of credit.