Calculate HELOC payments during the draw period and repayment period. See your maximum borrowing power based on home equity and 85% LTV limits.
HELOC Calculator helps you make informed financial decisions using current rates and proven formulas. Adjust the inputs below to match your situation and see your personalized results update in real time.
Results are estimates only. Not financial advice.
🔒 Financial Disclaimer: These calculations are estimates for informational purposes only. Results are not financial advice. Consult a qualified financial advisor before making major financial decisions.
Calculations based on publicly available data from government agencies. Actual results may vary based on individual circumstances.
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 | |
National Lending Co | 6.250% | 6.410% | $1,231/mo | |
Big Bank Mortgage | 6.375% | 6.520% | $1,247/mo | |
Premier Mortgage | 6.450% | 6.580% | $1,258/mo | |
Digital Home Loans | 6.500% | 6.630% | $1,264/mo |
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 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.
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