HELOC Payoff Calculator
See how long a HELOC balance takes to pay off at your rate and payment — and how extra principal changes the timeline. Click any i for detail.
Your HELOC
Balance ($)
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Balance
Current drawn balance on the HELOC. |
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APR (%)
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APR
Current annual rate. Many HELOCs are variable — use today’s rate for a snapshot. |
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Monthly payment ($)
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Payment
What you plan to pay each month toward the HELOC. |
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Extra principal ($/mo)
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Extra
Additional amount above the regular payment applied to principal. |
How to use this calculator
- Enter balance and APR.
- Enter your planned monthly payment.
- Add optional extra principal.
- Read payoff time and interest.
Results explained
The headline is time to pay off with extras included. Compare to the no-extra path in the breakdown.
Quick reference: HELOC payoff math
Core relationships in this model.
| Idea | Detail |
|---|---|
| Interest each month | Balance × APR ÷ 12 |
| Principal applied | Payment − interest (+ extras) |
| Payoff | Months until balance ≈ $0 |
If payment ≤ monthly interest, the balance never falls in this model.
How the estimate is built
Each month: interest accrues, then payment (+ extra) reduces balance. Repeat until paid off.
Example scenario
A $40,000 HELOC at 8.5% with $450/mo plus $100 extra typically pays off years sooner than $450 alone.
FAQ
Interest-only draw period?
Use a payment at least covering interest, or switch the payment input to your repayment-period amount.
Variable rate?
Re-run when the rate changes — this is a fixed-rate snapshot.