Mortgage Calculators
HELOC Payment Calculator
Model a home equity line of credit through both phases: interest-only payments while you draw, then full repayment afterwards.
Payment during the draw period
$375.00
- Payment during repayment
- $449.86
- Interest paid while drawing
- $45,000
- Total interest
- $102,967
Repayment phase schedule — yearly
| Year | Interest paid | Principal paid | Balance remaining |
|---|---|---|---|
| 1 | $4,462 | $936 | $49,064 |
| 2 | $4,374 | $1,024 | $48,039 |
| 3 | $4,278 | $1,120 | $46,919 |
| 4 | $4,173 | $1,225 | $45,694 |
| 5 | $4,058 | $1,340 | $44,354 |
| 6 | $3,932 | $1,466 | $42,887 |
| 7 | $3,795 | $1,604 | $41,284 |
| 8 | $3,644 | $1,754 | $39,530 |
| 9 | $3,480 | $1,919 | $37,611 |
| 10 | $3,300 | $2,098 | $35,513 |
How this calculator works
Draw payment = balance × r; Repayment = balance amortised over the repayment period
- r
- the monthly rate, which is usually variable on a HELOC
Important considerations
- HELOC rates typically float, so both payments can move.
- Nothing is repaid during the draw period unless you choose to overpay.
Related calculators
- Home Equity Loan CalculatorEquity available and the repayment on a second-charge loan.
- Interest-Only Mortgage CalculatorPayments before and after an interest-only period ends.
- Loan-to-Value CalculatorLTV ratio, equity and the gap to the next rate band.
- Mortgage CalculatorEstimate your total monthly mortgage payment and see the amortisation schedule.
- Mortgage Payment CalculatorPrincipal and interest payment on any home loan amount.
- Mortgage Affordability CalculatorHow much house your income and debts realistically support.
Learn more
Fixed vs. Variable Mortgage Rates: A Side-by-Side Comparison
How rate structure affects monthly payments, total interest, and the risk you carry over a full loan term.
When Refinancing a Mortgage Changes Your Total Cost
How break fees, remaining term, and the new rate combine to decide whether refinancing saves anything.
Home Loan Deposits and Loan-to-Value Bands, Explained
What a deposit changes about pricing, and why lenders group applications into LTV bands.
Terms used here
Frequently asked questions
What happens when the draw period ends?
The line closes to new borrowing and the balance amortises, which usually more than doubles the payment.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01