HELOC Calculator

Use our free HELOC calculator to estimate payments during both the draw period (interest-only) and repayment period (amortizing). See how much equity you can access and total borrowing costs.

Financial

Currency

Home Value

Mortgage Balance

HELOC Amount

HELOC Interest Rate (%)

Draw Period (years)

years

Repayment Period (years)

years

Formula

A HELOC has two phases: a draw period where you pay interest-only on what you borrow, and a repayment period where payments include principal and interest. This calculator shows both phases.

M_IO = P x r, M_Amort = P[r(1+r)^n] / [(1+r)^n - 1]

Percentage: The percentage value you want to apply

Number: The original number or value

Result: The calculated result

How It Works

1Enter your home value and existing mortgage balance.
2Enter the HELOC amount, interest rate, draw period, and repayment period.
3The calculator shows available equity and maximum HELOC (80% LTV).
4View interest-only payments during draw period and amortizing payments during repayment.

Examples

$400k home, $250k mortgage, $50k HELOC at 8%

1.Available equity = $400k - $250k = $150k
2.Max HELOC (80% LTV) = $400k x 80% - $250k = $70k
3.IO payment = $50k x (8%/12) = $333.33
4.Amortizing payment (20yr) = $418.22

Result: $333.33

Frequently Asked Questions

A Home Equity Line of Credit is a revolving credit line secured by your home equity. You can draw funds as needed during the draw period.

Loan-to-Value ratio is the total loans against the property divided by its value. Most HELOCs require an LTV of 80% or less.

The HELOC enters the repayment period where you can no longer draw funds and payments include principal and interest.

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HELOC vs Home Equity Loan

CalculateMe Team

Last updated: 2026-07-15

Frequently Asked Questions

A Home Equity Line of Credit is a revolving credit line secured by your home equity. You can draw funds as needed during the draw period.

Loan-to-Value ratio is the total loans against the property divided by its value. Most HELOCs require an LTV of 80% or less.

The HELOC enters the repayment period where you can no longer draw funds and payments include principal and interest.

HELOC Calculator

Formula

How It Works

Examples

$400k home, $250k mortgage, $50k HELOC at 8%

Frequently Asked Questions

What is a HELOC?

What is LTV?

What happens after the draw period?

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HELOC Calculator

Formula

How It Works

Examples

$400k home, $250k mortgage, $50k HELOC at 8%

Frequently Asked Questions

What is a HELOC?

What is LTV?

What happens after the draw period?

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