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
Example calculation
Illustrative example — not advice
Worked example — the heloc payment calculator as it loads, using the default figures below.
- 01Enter balance drawn: $50,000.
- 02Enter interest rate: 9%.
- 03Enter draw period: 10 years.
- 04Enter repayment period: 20 years.
- 05Read the payment during the draw period from the results panel: $375.00.
Payment during the draw period: $375.00. Payment during repayment: $449.86. Interest paid while drawing: $45,000. Total interest: $102,967.
These figures come straight from the calculator above running on the values listed, so you can retype them and confirm every number yourself. Change any input and the results update immediately. Illustrative only — not a quote, offer or recommendation.
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.
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