HELOC calculator for draw and repayment periods
Enter home value, mortgage debt, credit line, current draw, rate and both phases. HitEquals estimates utilization, CLTV, interest-only draw payment, later amortizing payment and total modeled interest.
Inputs used by this calculator
HELOC Calculator uses the fields below. The starting values reproduce the page example; replace them with values from the same units and time period before using the result.
| Input | Starting example | Accepted value | How it is used |
|---|---|---|---|
| Estimated home value | 450,000 | 0.01 or greater | Supplies the estimated home value quantity used by the published equation or result breakdown. |
| Current mortgage balance | 250,000 | 0 or greater | Supplies the current mortgage balance quantity used by the published equation or result breakdown. |
| HELOC credit limit | 75,000 | 0.01 or greater | Supplies the heloc credit limit quantity used by the published equation or result breakdown. |
| Current HELOC balance | 50,000 | 0 or greater | Supplies the current heloc balance quantity used by the published equation or result breakdown. |
| Current annual rate (%) | 9 | 0 to 100 | Supplies the current annual rate (%) quantity used by the published equation or result breakdown. |
| Draw period remaining (years) | 5 | 0 to 20 | Supplies the draw period remaining (years) quantity used by the published equation or result breakdown. |
| Repayment period (years) | 15 | 0.0833333333 to 40 | Supplies the repayment period (years) quantity used by the published equation or result breakdown. |
How a HELOC works
A home equity line of credit is revolving debt secured by the home. The draw period may allow borrowing and repayment; a later repayment period can require principal and interest.
Draw-period payment
This scenario assumes no further draws and interest-only monthly payments on the current balance. Actual minimum-payment rules can include principal, fees or a floor.
interest-only payment = balance × rate ÷ 12 ÷ 100Repayment-period payment
At the modeled transition, the unchanged balance is amortized across the repayment years. That payment may be materially higher than the interest-only amount.
Credit utilization and CLTV
Utilization compares current balance with the line limit. Combined LTV uses the full credit limit conservatively because a lender may underwrite available credit as potential debt.
Variable-rate and collateral risk
HELOC rates are often variable, so a constant-rate projection is one scenario. CFPB warns that the home is collateral; inability to repay can put it at risk.
What the HELOC Calculator answers
Estimate interest-only draw payments, repayment payments, interest and combined LTV for a HELOC.
Use HELOC Calculator when you know Estimated home value, Current mortgage balance, HELOC credit limit, Current HELOC balance, Current annual rate (%), Draw period remaining (years) and Repayment period (years) and need the relationship expressed by the published equation.
Two HELOC phases
| Phase | Modeled payment | Balance behavior |
|---|---|---|
| Draw | Interest only | Unchanged without new draws |
| Repayment | Principal + interest | Falls to zero over term |
Frequently asked questions
What is a HELOC?
It is a revolving line of credit secured by home equity.
Why can the repayment payment jump?
Principal begins amortizing in addition to interest.
Does this model future draws?
No. It assumes the current balance remains constant during the draw phase.
Can the interest rate change?
Often yes; this calculator holds the entered rate constant for comparison.
What does HELOC utilization mean?
It is the current HELOC balance divided by the credit limit.
What question does this HELOC Calculator answer?
Estimate interest-only draw payments, repayment payments, interest and combined LTV for a HELOC.
What to keep in mind
HELOC rates and balances can change. This constant-rate, no-further-draw scenario is an estimate and your home secures the debt.
Results are rounded for display in US format, with money in dollars and cents; CSV exports keep full calculation precision. This is a calculation summary, not an official certificate.