HELOC Calculator - Calculate Your Home Equity Line of Credit Payments and Costs
HELOC Calculator
Calculation Results
Amortization Tables
| Month | Date | Payment | Principal | Interest | Ending Balance |
|---|
| Year | Date | Payment | Principal | Interest | Ending Balance |
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Loan Payment Schedule Visualization
What Is a HELOC Calculator?
A Home Equity Line of Credit (HELOC) calculator is a financial tool that helps homeowners estimate their monthly payments, total interest costs, and overall loan expenses for a HELOC. Unlike traditional loans, HELOCs typically have two distinct phases: a draw period where you pay interest-only, and a repayment period where you pay both principal and interest.
Our HELOC calculator provides comprehensive insights including:
- Interest-only payments during the draw period
- Principal and interest payments during the repayment period
- Total interest costs over the life of the loan
- Real APR including closing costs and annual fees
- Detailed monthly and annual amortization schedules
- Visual representations through interactive charts
What Is the Monthly Payment on a $50,000 HELOC?
At 7% APR on a $50,000 HELOC, the monthly payment is about $291.67 during the interest-only period, and about $580.54 per month if it’s repaid over 10 years (principal + interest).
| Interest Rate | Draw Period Payment | Repayment Period Payment(10-year) |
|---|---|---|
| 7% | $291.67 | $580.54 |
| 7.5% | $312.50 | $593.51 |
| 8% | $333.33 | $606.64 |
| 8.5% | $354.17 | $619.93 |
| 9% | $375.00 | $633.38 |
| 9.5% | $395.83 | $646.99 |
| 10% | $416.67 | $660.75 |
| 10.5% | $437.50 | $674.67 |
How Much Is the HELOC Payment for $100,000?
At 8% APR on a $100,000 HELOC, the monthly payment is about $666.67 during the interest-only period, and about $2,027.64 per month if it’s repaid over 15 years (principal + interest).
| Interest Rate | Draw Period Payment | Repayment Period Payment(15-year) |
|---|---|---|
| 7% | $583.33 | $1,980.12 |
| 7.5% | $625.00 | $2,003.79 |
| 8% | $666.67 | $2,027.64 |
| 8.5% | $708.33 | $2,051.65 |
| 9% | $750.00 | $2,075.84 |
| 9.5% | $791.67 | $2,100.19 |
| 10% | $833.33 | $2,124.70 |
| 10.5% | $875.00 | $2,149.39 |
FAQ
What Is the Difference Between a HELOC and a Home Equity Loan?
A HELOC is a revolving line of credit that works like a credit card, allowing you to borrow as needed during the draw period. A home equity loan provides a lump sum upfront with fixed monthly payments from the start.
Is a HELOC Better Than a Personal Loan?
A HELOC can be better than a personal loan if you have home equity and want a typically lower, flexible rate and can accept variable payments and the risk of your home as collateral, while a personal loan is better if you want fixed payments without putting your home at risk.
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