HELOC Payment Calculator
Figure the payment on a home-equity line — enter the credit line and drawn balance, pick interest-only or amortizing repayment, and see utilization beside the payment. Click any i for detail.
Line & payment
Credit line ($)
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Credit line
Maximum HELOC limit approved by the lender — used for utilization context. |
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Drawn balance ($)
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Drawn balance
Amount currently outstanding. Payments are calculated on this balance, not unused credit. |
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APR (%)
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APR
Current HELOC APR (often variable; use today’s rate for a snapshot). |
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Payment type
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Payment type
Interest-only is common in the draw period; amortizing spreads principal over a repayment term. |
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Amortizing term (years)
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Amortizing term
Used when modeling fully amortizing repayment after or instead of IO. |
How to use this calculator
- Enter credit line and drawn balance.
- Set APR and choose IO vs amortizing.
- Set amortizing term if needed.
- Read payment and line utilization.
Results explained
The headline is the estimated HELOC payment on the drawn balance for the payment type you selected. Utilization (drawn ÷ line) is shown for context — lenders care about available credit too.
Quick reference: HELOC payment
Draw vs repayment periods differ by product.
| Item | Detail |
|---|---|
| Interest-only | Balance × APR ÷ 12 |
| Amortizing | Standard PMT over term |
| Utilization | Drawn ÷ credit line |
To model payoff with extra principal, use the HELOC payoff calculator.
How the estimate is built
IO payment = drawn balance × monthly rate. Amortizing payment uses the standard mortgage-style payment formula on the drawn balance over the term you enter.
Example scenario
$45,000 drawn on a $100,000 line at 8.5% APR → interest-only about $319/month; a 20-year amortizing payment is higher because it includes principal.
FAQ
Is this the same as HELOC monthly payment?
Same math family, different job: this page leads with line + utilization and a payment-type choice for shopping/snapshot use.
Variable rates?
HELOCs often reprice. Re-run when the index changes.
Unused credit charged?
Usually you pay on the drawn balance only — confirm with your note.