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//// Personal Finance · Home Equity

HELOC Payment Calculator

Enter your home value, mortgage balance, draw amount, and rate to see interest-only draw payments, repayment PMT, and total interest paid.

Where this fits

🏠 Real EstateHome BuyingHomeownersHouseholds

This tool lives inside Home Buying and is most useful for homeowners and households.

30yr Fixed Avg~6.8%
Standard Down20%
DTI Limit (QM)43%

Home & Mortgage

$
$
Available Equity:$170,000
HELOC Available:$102,500

HELOC Terms

$

Draw Period (IO)

$354.17

/mo interest only

Repayment PMT

$433.91

/mo

Total Interest

$54,139

over repayment period

Total Cost

$104,139

principal + interest

Cost Breakdown

HELOC Draw Amount (Principal)$50,000
Draw Period Interest (10 yrs, IO)$42,500
Repayment Period Interest (20 yrs)$54,139
Total Interest Paid$96,639
Principal: $50,000Total Interest: $96,639
PrincipalInterest

This calculator uses a standard 85% combined LTV limit. Actual HELOC availability depends on your lender, credit score, and local regulations. Draw period interest-only payments assume no principal paydown during the draw period.

1

Available Home Equity

Home Value − Mortgage Balance

= $170,000

$450,000 − $280,000 = $170,000

2

HELOC Available (85% LTV Limit)

(Home Value × LTV) − Mortgage Balance

= $102,500

($450,000 × 0.85) − $280,000 = $102,500

3

Draw Period — Interest-Only Payment

Balance × (Rate / 12)

= $354.17/mo

$50,000 × (8.5% / 12) = $354.17/mo

4

Repayment Period — Amortizing PMT

P × r / (1 − (1 + r)^−n)

= $433.91/mo

P=$50,000, r=0.7083%/mo, n=240 payments → $433.91/mo

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