HELOC Monthly Payment Calculator
Estimate a HELOC payment on your drawn balance — interest-only during a draw-style period or fully amortizing repayment. Click any i for detail.
Your HELOC
Drawn balance ($)
i
Balance
Amount currently drawn (not the full credit line if unused). |
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APR (%)
i
APR
Annual rate used for the payment snapshot. |
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Interest-only months
i
IO months
Length of an interest-only period for context (does not change the IO payment formula). |
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Amortizing term (years)
i
Amort term
Term used for the fully amortizing payment comparison. |
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Show payment as
i
Mode
Toggle which payment is featured in the result. |
How to use this calculator
- Enter drawn balance and APR.
- Set IO months and amortizing term for context.
- Choose which payment to feature.
- Compare IO vs amortizing in the breakdown.
Results explained
The headline is either the interest-only or amortizing payment. Both appear in the breakdown.
Quick reference: HELOC payment formulas
Simple payment math used here.
| Mode | Formula |
|---|---|
| Interest-only | Balance × APR ÷ 12 |
| Amortizing | Standard mortgage-style P&I payment |
Taxes/insurance are not included — this is debt service on the HELOC balance only.
How the estimate is built
IO = principal × monthly rate. Amortizing uses the standard payment formula over the selected term.
Example scenario
A $50,000 draw at 8.25% is about $344/mo interest-only, versus a higher fully amortizing payment over 20 years.
FAQ
Credit line vs balance?
Payment math uses the drawn balance. Unused credit does not accrue interest.
Same as heloc payment?
This page focuses on monthly payment sizing; the HELOC payoff tool focuses on time-to-clear.