HELOC Payment Calculator
Enter HELOC balance (or draw amount) and rate. See interest-only payment or amortizing payment over a chosen payoff term.
HELOC payment
Enter values to calculate.
How it works
Interest-only: payment = balance × (rate/12). Amortizing: we use the standard loan formula for the balance and a chosen term.
When to use it
Use it to budget HELOC payments or to compare interest-only vs paying down over time.
Frequently asked questions
Variable rate?
HELOCs are often variable. Use current rate; recalculate when rate changes.
Same as home equity loan?
Home equity loans are usually fixed and amortizing. HELOC is a line; payment depends on balance drawn.