Finance
HELOC Draw and Repayment Calculator
Model interest-only draw-period payments and the later amortizing repayment payment for a home-equity line of credit. The calculator uses draw payment = balance × annual rate ÷ 12; repayment payment = amortized loan payment. It returns more than one result so you can check the main answer against a useful secondary measure. The payment can jump sharply when the draw period ends because principal repayment begins. Actual HELOC rates are usually variable and fees or minimum-payment rules differ by lender.
Educational scenario only. Confirm rates, fees, taxes, contract terms, and eligibility with the relevant institution or adviser.
Calculate and compare
Use the number box for precision or the slider for fast scenario testing.
Scenario results
Line utilization
43.33%
Drawn balance divided by credit limit.
Interest-only payment
$406.25
Before any extra principal.
Repayment-period payment
$602.56
Modeled over 15 years at the entered rate.
How the calculation works
Use consistent units and retain full precision until the final display step.
Worked example
Reproduce the displayed scenario, then change one assumption at a time.
Assumptions behind the result
- • Inputs use the units shown beside each control.
- • The displayed formula is applied without hidden market or demographic data.
- • Rounding occurs only for display; calculations keep full numeric precision.
- • The payment can jump sharply when the draw period ends because principal repayment begins.
- • Actual HELOC rates are usually variable and fees or minimum-payment rules differ by lender.
Mistakes that change the answer
- • Mixing percentages with decimals or mixing incompatible units.
- • Relying on a rounded intermediate value instead of the full result.
- • Changing several assumptions at once instead of testing credit limit separately.