How is a HELOC payment calculated?

During the draw period, you typically pay interest only on the amount borrowed. During the repayment period, you pay principal plus interest, similar to a standard mortgage.

What is the difference between a HELOC and a Home Equity Loan?

A HELOC is a revolving line of credit with variable rates, while a Home Equity Loan provides a lump sum with a fixed interest rate.

Home Equity Line Payment Calculator

Calculate your HELOC monthly payment in seconds. See your interest-only payments and full repayment schedule.

Borrowing Power Calculator

Estimated Home Value

Current Mortgage Balance

Max Loan-to-Value (LTV)80%

75%

80%

85%

90%

Current HELOC Rates from Top Banks

JPMorgan Chase

As low as

8.74%

Variable APR

Sample rate for excellent credit

Bank of America

As low as

5.74%

Intro APR (6 mos)

Then 8.40% variable APR

Citigroup

As low as

8.50%

Variable APR

Based on excellent credit

U.S. Bank

As low as

7.45%

Starting APR

Ranges up to 11.10%

PNC Bank

As low as

6.49%

Starting APR

Variable rates available

*Rates are for informational purposes only and are subject to change. Rates shown are estimates based on data from November 2025 for borrowers with excellent credit. Actual rates may vary based on your location, credit score, and loan terms. Please verify directly with the lender.

How to Use This HELOC Calculator

This calculator helps you estimate your monthly payments for a Home Equity Line of Credit (HELOC). Simply enter your credit line amount, current interest rate, and the length of your draw and repayment periods.

Understanding Your Results

Interest-Only Payment: This is what you will pay each month during the "Draw Period" (usually the first 10 years). You are only paying interest on the money you have actually borrowed.
Repayment Monthly Payment: This is the estimated payment after the draw period ends. It includes both principal and interest to pay off the loan balance by the end of the term.

What is a HELOC?

A Home Equity Line of Credit (HELOC) is a revolving credit line secured by your home's equity. Unlike a standard loan, you can borrow, repay, and borrow again during the draw period.