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HELOC Calculator

Find how much you can borrow against your home, your interest-only HELOC payment during the draw period, the jump when repayment starts, and how a fixed-rate home equity loan compares.

Updated November 4, 2026. Free, no sign-up; everything runs in your browser and nothing you type is stored.

HELOC calculator

–Maximum credit line
–Combined LTV after the draw
–Interest-only payment (draw period)
–Payment in repayment period
–Payment shock
–Total interest over 30 years

Fixed home equity loan instead

–Fixed monthly payment
–Total interest

How much can I borrow with a HELOC?

Lenders cap the combined loan-to-value (CLTV): your mortgage plus the HELOC, divided by the home's value. Typical limits are 80% to 85%, some lenders go to 90%. Credit line = home value × max CLTV − mortgage balance. A $500,000 home with $300,000 owed at an 85% limit allows a line of up to $125,000.

HELOC repayment calculator: the draw period and payment shock

Most HELOCs have a 10-year draw period where you can borrow and often pay interest only, then a 20-year repayment period where the balance is amortized. On a $60,000 balance at 8.25%, the interest-only payment is $412.50 a month; when repayment starts it jumps to $511.24, about 24% more, and more if rates have risen, because HELOC rates are usually variable (prime plus a margin).

Home equity line of credit payment calculator vs home equity loan

A home equity loan is a lump sum at a fixed rate with a fixed payment from day one. A HELOC is a revolving line with a variable rate; you pay interest only on what you draw. Use a HELOC for costs spread over time (a renovation in stages); use a fixed loan when you need the full amount now and want a predictable payment. Interest is deductible only if the money is used to buy, build or substantially improve the home that secures it.

Equity loan calculator: other names

Home equity line calculator, equity line of credit calculator, home line of credit calculator, homeowner line of credit calculator, mortgage line of credit calculator, home equity LOC calculator, home equity finance calculator and house equity loan calculator all describe the same tool.

Calculate a HELOC payment: interest-only and repayment

Calculating a HELOC payment takes two numbers: during the draw period, balance × rate ÷ 12; during repayment, the standard amortizing payment. That's how to calculate a HELOC payment on any balance, and how this HELOC equity calculator, home equity line payment calculator, home equity line of credit payment calculator, equity line payment calculator, home line of credit payment calculator and mortgage line of credit payment calculator work. Calculating home equity line of credit payments for budgeting means planning for the higher repayment figure, not the interest-only one.

As a home equity repayment calculator, home equity payment estimator, home equity credit calculator or home equity line loan calculator, compare the fixed home equity loan box with the HELOC: the fixed loan's payment never changes.

Common questions

How is a HELOC payment calculated?

During the draw period, usually interest only: balance × rate ÷ 12. In repayment, the balance is amortized over the remaining years.

How much can I borrow with a HELOC?

Home value × the lender's max combined LTV (often 80% to 85%) minus your mortgage balance.

What is HELOC payment shock?

The jump when the interest-only draw period ends and principal payments start, often 20% to 50% or more.

Is a HELOC or home equity loan better?

A home equity loan gives a fixed rate and payment; a HELOC is flexible but usually variable-rate.

Is HELOC interest tax deductible?

Only if the funds buy, build or substantially improve the home securing the loan, and you itemize.

Sources

Related

General information, not financial, tax or legal advice. Check important numbers with the official source before acting on them.