HELOC Calculator

This HELOC calculator will instantly provide you with detailed information, including your monthly payments and the total interest paid over the life of the loan. Additionally, you can also view a full amortization schedule and a dynamic line chart that visualizes your remaining loan balance over time. For additional questions see the help guide below.

Need to know how much you might be eligible to borrow – use our Loan To Value Calculator.

Monthly Payment During Interest Only Period
Monthly Payment During Repayment Period
Total Interest Paid

See amortization schedule

Frequently Asked Questions About HELOCs

What is the Difference Between a HELOC and a Home Equity Loan?

A HELOC is a revolving line of credit with a variable interest rate, offering flexibility to borrow and repay as needed. In contrast, a home equity loan provides a lump sum of cash with a fixed interest rate, requiring regular, consistent payments until the loan is repaid in full.

How Much Can I Borrow with a HELOC?

The amount you can borrow typically depends on your home’s value, your outstanding mortgage balance, and your creditworthiness. Lenders generally allow you to borrow up to 75% – 85% of your home’s appraised value minus the amount you owe on your mortgage.

What are the Interest Rates for a HELOC?

HELOCs usually have variable interest rates that are tied to a benchmark interest rate, like the prime rate. This means your interest rate can fluctuate over time, which can affect your payment amounts.

Are HELOC Interest Payments Tax Deductible?

Interest payments on a HELOC may be tax-deductible if the funds are used to buy, build, or substantially improve the taxpayer’s home that secures the loan. However, it’s important to consult with a tax professional for advice specific to your situation.

What Happens at the End of the Draw Period?

At the end of the draw period, you can no longer borrow from the HELOC, and you must start repaying the principal and interest. The repayment period usually lasts from 10 to 20 years.

Can I Pay Off a HELOC Early?

Yes, you can usually pay off a HELOC early without penalty. However, some lenders may charge a prepayment penalty or an early closure fee, so it’s important to check the terms of your specific HELOC.

What Happens if I Sell My House with a HELOC?

If you sell your house, you must pay off the HELOC balance at closing. The proceeds from the sale of the house are typically used to pay off the HELOC along with any other outstanding mortgage balances.

How Do I Qualify for a HELOC?

To qualify for a HELOC, you need to have sufficient equity in your home, a good credit score, a stable income, and a debt-to-income ratio that meets the lender’s requirements.

Are There Any Fees Associated with a HELOC?

Yes, HELOCs may come with various fees, including an application fee, appraisal fee, attorney fees, and annual or maintenance fees. It’s important to understand all the fees involved before you agree to a HELOC.

HELOC Calculator Help Guide – Inputs and Outputs


  • Loan Amount: The total amount of the loan.
  • Annual Interest Rate: The interest rate applied to the loan, on an annual basis.
  • Interest Only Period: The duration (in years) for which only interest payments are made.
  • Repayment Period: The duration (in years) for which both principal and interest payments are made.

Calculations and Outputs

  • Monthly Payment During Interest Only Period: This is calculated using the loan amount and monthly interest rate. It represents the monthly payment amount when only interest is paid, not the principal.
  • Monthly Payment During Repayment Period: This calculates the monthly payment amount that includes both principal and interest, after the interest-only period is over.
  • Total Interest Paid: The total amount of interest paid over the life of the loan.

Amortization Table

This section displays a detailed amortization schedule. It shows monthly breakdowns of how each payment is split into interest and principal, and how the balance changes over time.


This visualizes the remaining balance of the HELOC loan over time.