Calculate HELOC payments during the draw period and repayment period. See your maximum borrowing power based on home equity and 85% LTV limits.
30-year fixed-rate mortgages — updated April 2026
| Lender | Rate | APR | Est. Payment | Action |
|---|---|---|---|---|
Community Credit UnionBest Rate | 6.125% | 6.280% | $1,217/mo | Check Rate |
National Lending Co | 6.250% | 6.410% | $1,231/mo | Check Rate |
Big Bank Mortgage | 6.375% | 6.520% | $1,247/mo | Check Rate |
Premier Mortgage | 6.450% | 6.580% | $1,258/mo | Check Rate |
Digital Home Loans | 6.500% | 6.630% | $1,264/mo | Check Rate |
Rates shown are for illustrative purposes. Actual rates may vary based on credit score, loan amount, down payment, and market conditions. Contact lenders directly for personalized rate quotes.
A Home Equity Line of Credit (HELOC) lets you borrow against your home equity with a revolving credit line. Interest rates are typically variable and tied to the prime rate. This calculator helps you understand how much you can borrow and what your payments will look like during both the draw and repayment periods.
A Home Equity Line of Credit (HELOC) lets you borrow against your home equity as needed, similar to a credit card but with much lower interest rates because your home serves as collateral. This calculator helps you understand the two distinct phases of a HELOC. During the draw period (typically 5-10 years), you can borrow up to your credit limit and usually make interest-only payments. Once the draw period ends, the repayment period begins (typically 10-20 years), during which you can no longer borrow and must repay both principal and interest in fully amortizing payments. The payment jump from draw to repayment period can be significant — sometimes doubling or tripling — so planning ahead is critical. Most lenders limit your total borrowing to 85% of your home value minus your existing mortgage balance, known as the combined loan-to-value (CLTV) ratio. HELOCs typically carry variable interest rates tied to the prime rate, which means your payments can fluctuate as rates change. This calculator helps you estimate payments under both phases so you can budget appropriately and determine whether a HELOC or a fixed-rate home equity loan is the better choice for your needs.
Result: With a $400K home and $250K mortgage (62.5% LTV), borrowing $40,000 at 8.5% during the draw period costs ~$283/month in interest-only payments. After 10 years, the $40,000 balance converts to fully amortizing payments over 20 years at ~$347/month. Total interest paid over 30 years: approximately $70,800.
Understanding how to use financial calculators effectively requires knowing the underlying concepts. The heloc involves several key financial principles that affect your results.
Our calculator uses industry-standard formulas verified by certified financial professionals. The inputs you provide are processed entirely in your browser — we never store or transmit your financial data. Results update in real time as you adjust values, allowing you to explore different scenarios quickly.
For the most accurate results, use current figures from your most recent financial statements. If you are unsure about a specific input, our default values represent national averages based on data from the Federal Reserve, IRS, and Bureau of Labor Statistics.
Remember that calculator results are estimates for educational purposes. Your actual financial situation may differ based on factors like your credit score, specific lender terms, local regulations, and market conditions. We recommend consulting with a qualified financial professional before making major financial decisions.
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Results are estimates only and not financial advice. Calculator logic verified by Michael Chen, CFP®. Full disclaimer · Methodology