Home Equity Loan Payment Calculator
Closed-end home equity loans usually amortize like a mortgage — enter amount, rate, and term to see the fixed P&I payment and lifetime interest. Click any i for detail.
Loan terms
Loan amount ($)
i
Loan amount
Principal on the home equity loan. |
|
|---|---|
APR (%)
i
APR
Fixed annual rate on the note. |
|
Term (years)
i
Term
Amortization length in years. |
How to use this calculator
- Enter loan amount and APR.
- Set amortization years.
- Review payment and total interest.
Results explained
The headline is your fixed monthly P&I on a fully amortizing home equity loan — not a HELOC draw payment.
Quick reference: home equity loan payment
Standard amortizing math.
| Item | Detail |
|---|---|
| Payment | Mortgage-style PMT |
| Interest | Total payments − principal |
Origination fees and payment insurance are extra.
How the estimate is built
Monthly payment uses the standard amortization formula on the loan amount, monthly rate, and term in months.
Example scenario
$75,000 at 8.25% over 15 years produces a payment around $730/month with roughly $56,000 in total interest over the life.
FAQ
HELOC vs home equity loan?
This page is for fixed closed-end loans; lines of credit use draw payments instead.
Are rates fixed?
Many equity loans are fixed; verify your note.
Tax deductibility?
Interest deductibility depends on use and tax law — not modeled here.