HELOC Payment Calculator - Draw and Repayment Payments
Calculate HELOC payments free: interest-only draw payments and amortized repayment. No signup.
Tool Interface
HELOC Payment Calculator
A HELOC has two phases: a draw period where you pay interest only, then a repayment period where you pay back the balance plus interest. Enter your numbers to see both payments.
| Interest paid during draw period | $0.00 |
| Interest paid during repayment | $0.00 |
| Total interest over both periods | $0.00 |
| Total paid over both periods | $0.00 |
Payments are calculated on the drawn balance, not the credit limit. Most HELOC rates are variable, so real payments can change when rates move — this calculator assumes one fixed rate for the whole term.
How to use
- Enter the balance drawn — the amount you actually borrowed, not the full credit limit.
- Enter the annual rate and the draw and repayment periods in years.
- Calculate to see the interest-only draw payment, the amortized repayment payment, and total interest.
- Change any number and calculate again to compare scenarios.
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About This Tool
About This Tool
A home equity line of credit (HELOC) has two phases. During the draw period you pay interest only, so the balance does not fall. During the repayment period you pay the balance back with interest. This calculator shows both monthly payments, plus total interest over the full term.
Key Features
- Two-phase math: interest-only draw payments and amortized repayment payments side by side.
- Total cost: interest for each period, total interest, and total paid.
- Scenario testing: change any number and recalculate instantly.
- Private by design: everything runs in your browser. No signup, no data sent anywhere.
How to Use
- Enter the balance drawn — the amount actually borrowed, not the full credit limit.
- Enter the annual interest rate and the draw and repayment periods in years.
- Click Calculate payments to see both monthly payments and the total cost.
- Change any number and calculate again to compare scenarios.
Frequently Asked Questions
What is the draw period payment?
Interest only on the drawn balance. On a $50,000 balance at 8.5 percent, that is $354.17 per month, and the balance stays $50,000.
What is the repayment period payment?
A fixed monthly payment that pays the balance off with interest over the repayment period. On the same example over 20 years, it is $433.91 per month.
Is the rate really fixed?
No. Most HELOC rates are variable, so real payments move when rates move. This calculator assumes one fixed rate for the whole term, so treat the result as an estimate at the current rate.
Do I enter the credit limit or the balance?
The balance drawn. Payments are calculated on what you owe, not on the unused part of the line.
What if I draw more later?
Recalculate with the new balance. Drawing more raises both payments.