HELOC payment calculator
See how much your HELOC payment could be while you're drawing funds — and how much it could rise when the repayment period starts.
Assumes the balance and rate stay the same. Because HELOC rates are variable, actual payments will change with the index. Not a quote.
Check eligibility — soft pullWhy a HELOC has two different payments
During the draw period, many HELOCs require only interest on the balance you've borrowed. That keeps early payments low. When the repayment period begins, the balance is paid off with principal and interest over the remaining term, so the payment rises — sometimes significantly. Planning for that jump is one of the most important parts of using a HELOC responsibly.
Remember: HELOC rates are variable
This calculator assumes your rate stays the same. In reality, most HELOC rates follow the Prime Rate. Try entering a rate 1–2 points higher to see how a rate increase would affect your budget.
Ways to keep payments manageable
- Pay some principal during the draw period, not just interest.
- Draw only what you need, when you need it.
- Ask whether you can lock a fixed rate on part of your balance.
More calculators
Frequently asked questions
Are HELOC payments interest-only?
How is a HELOC interest-only payment calculated?
Can my HELOC payment go up?
Keep reading
Not ready to apply? Request a call.
Tell me a little about your home and what you want to use the funds for. I'll call you, answer your questions, and let you know whether a HELOC makes sense — before any credit check.
- Straight answers from a licensed loan originator, not a call center
- No credit pull to talk through your options
- If a HELOC isn't the right fit, I'll tell you
Prefer to start now? Apply online — soft pull