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HELOC payment calculator

A HELOC payment has two stages: interest-only during the draw period, then principal + interest during repayment. Enter your balance and rate to see both.

HELOC balance

Interest rate (APR)variable

Draw periodinterest-only

yrs

Repayment period

yrs

Draw period · interest-only

$531.25/mo

first 10 years

Repayment · principal + interest

$650.87/mo

next 20 years

Payment jump: +$120/mo
Total interest: $144,958
Total of payments: $219,958

Compare HELOC rates→

Most HELOCs carry a variable rate, so your payment can change over time.

How HELOC payments are calculated

During the draw periodyou typically pay only interest on what you’ve borrowed:

interest-only payment = balance × (APR ÷ 12)

During the repayment period the balance is fully amortized, so the payment covers principal plus interest over the remaining term:

payment = P × r ÷ (1 − (1 + r)^−n)
   P = balance   r = monthly rate   n = repayment months

Because most HELOCs are variable-rate, your real payment moves with the prime rate. The estimate above assumes a constant rate.

Compare HELOC rates

A lower APR cuts both your interest-only and repayment payments. Comparing multiple lenders is the single biggest factor in what you’ll actually pay.

Lender comparison coming soon.

Frequently asked questions

How is a HELOC monthly payment calculated?+

A HELOC has two phases. During the draw period (often 10 years) most lenders require interest-only payments, equal to your balance times the monthly interest rate. After that, the repayment period (often 20 years) fully amortizes the balance, so your payment jumps to cover principal plus interest.

Why does my HELOC payment go up after the draw period?+

During the draw period you usually pay only interest, which keeps payments low. When repayment begins you must pay back the principal too, amortized over the remaining term — so the monthly payment can rise sharply, sometimes doubling or more.

Are HELOC payments fixed or variable?+

Most HELOCs carry a variable interest rate tied to the prime rate, so your payment can change as rates move. Some lenders offer a fixed-rate lock option on part of the balance. This calculator assumes a constant rate to estimate payments.

What is a typical HELOC interest rate?+

HELOC rates are usually based on the prime rate plus a margin set by your lender. In 2026's rate environment many HELOCs fall roughly in the 7–10% APR range, but your rate depends on your credit score, CLTV and the lender.