HELOC Payment Calculator (Draw + Repayment)
A home equity line of credit runs in two phases: a draw period where you pay interest only, and a repayment period where principal and interest are due together. Enter your home value, mortgage balance, CLTV limit, and rate to see both payments side-by-side, quantify the payment shock at the transition, and review the complete month-by-month schedule. This calculator is for informational purposes only — consult a licensed lender for formal product details and approval.
Available credit line
$90,000
Draw payment
$333.33
interest-only / mo
Repayment
$606.64
amortized / mo
Payment shock at transition
+$273.30/ mo
81.99% jump when draw ends
Draw interest
$20,000
Repay interest
$22,797
Total interest
$42,797
Outstanding balance over time
Months 1–60: draw period (flat) · Months 61–180: repayment
Full payment schedule (180 months)
| Mo. | Phase | Payment | Interest | Principal | Balance |
|---|---|---|---|---|---|
| 1 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 2 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 3 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 4 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 5 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 6 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 7 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 8 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 9 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 10 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 11 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 12 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 13 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 14 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 15 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 16 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 17 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 18 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 19 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 20 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 21 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 22 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 23 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 24 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 25 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 26 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 27 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 28 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 29 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 30 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 31 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 32 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 33 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 34 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 35 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 36 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 37 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 38 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 39 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 40 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 41 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 42 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 43 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 44 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 45 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 46 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 47 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 48 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 49 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 50 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 51 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 52 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 53 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 54 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 55 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 56 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 57 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 58 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 59 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 60 | draw | $333.33 | $333.33 | $0.00 | $50,000.00 |
| 61 | repay | $606.63 | $333.33 | $273.30 | $49,726.70 |
| 62 | repay | $606.64 | $331.51 | $275.13 | $49,451.57 |
| 63 | repay | $606.64 | $329.68 | $276.96 | $49,174.61 |
| 64 | repay | $606.64 | $327.83 | $278.81 | $48,895.80 |
| 65 | repay | $606.64 | $325.97 | $280.67 | $48,615.13 |
| 66 | repay | $606.64 | $324.10 | $282.54 | $48,332.60 |
| 67 | repay | $606.64 | $322.22 | $284.42 | $48,048.18 |
| 68 | repay | $606.64 | $320.32 | $286.32 | $47,761.86 |
| 69 | repay | $606.64 | $318.41 | $288.23 | $47,473.63 |
| 70 | repay | $606.64 | $316.49 | $290.15 | $47,183.49 |
| 71 | repay | $606.64 | $314.56 | $292.08 | $46,891.41 |
| 72 | repay | $606.64 | $312.61 | $294.03 | $46,597.38 |
| 73 | repay | $606.64 | $310.65 | $295.99 | $46,301.39 |
| 74 | repay | $606.64 | $308.68 | $297.96 | $46,003.43 |
| 75 | repay | $606.64 | $306.69 | $299.95 | $45,703.48 |
| 76 | repay | $606.64 | $304.69 | $301.95 | $45,401.53 |
| 77 | repay | $606.64 | $302.68 | $303.96 | $45,097.57 |
| 78 | repay | $606.64 | $300.65 | $305.99 | $44,791.58 |
| 79 | repay | $606.64 | $298.61 | $308.03 | $44,483.55 |
| 80 | repay | $606.64 | $296.56 | $310.08 | $44,173.47 |
| 81 | repay | $606.64 | $294.49 | $312.15 | $43,861.32 |
| 82 | repay | $606.64 | $292.41 | $314.23 | $43,547.10 |
| 83 | repay | $606.63 | $290.31 | $316.32 | $43,230.77 |
| 84 | repay | $606.64 | $288.21 | $318.43 | $42,912.34 |
| 85 | repay | $606.64 | $286.08 | $320.56 | $42,591.78 |
| 86 | repay | $606.64 | $283.95 | $322.69 | $42,269.09 |
| 87 | repay | $606.63 | $281.79 | $324.84 | $41,944.25 |
| 88 | repay | $606.64 | $279.63 | $327.01 | $41,617.24 |
| 89 | repay | $606.64 | $277.45 | $329.19 | $41,288.05 |
| 90 | repay | $606.63 | $275.25 | $331.38 | $40,956.66 |
| 91 | repay | $606.63 | $273.04 | $333.59 | $40,623.07 |
| 92 | repay | $606.64 | $270.82 | $335.82 | $40,287.25 |
| 93 | repay | $606.64 | $268.58 | $338.06 | $39,949.20 |
| 94 | repay | $606.64 | $266.33 | $340.31 | $39,608.89 |
| 95 | repay | $606.64 | $264.06 | $342.58 | $39,266.31 |
| 96 | repay | $606.64 | $261.78 | $344.86 | $38,921.44 |
| 97 | repay | $606.64 | $259.48 | $347.16 | $38,574.28 |
| 98 | repay | $606.64 | $257.16 | $349.48 | $38,224.81 |
| 99 | repay | $606.64 | $254.83 | $351.81 | $37,873.00 |
| 100 | repay | $606.64 | $252.49 | $354.15 | $37,518.85 |
| 101 | repay | $606.64 | $250.13 | $356.51 | $37,162.34 |
| 102 | repay | $606.64 | $247.75 | $358.89 | $36,803.45 |
| 103 | repay | $606.64 | $245.36 | $361.28 | $36,442.17 |
| 104 | repay | $606.64 | $242.95 | $363.69 | $36,078.48 |
| 105 | repay | $606.63 | $240.52 | $366.11 | $35,712.36 |
| 106 | repay | $606.64 | $238.08 | $368.56 | $35,343.81 |
| 107 | repay | $606.64 | $235.63 | $371.01 | $34,972.79 |
| 108 | repay | $606.64 | $233.15 | $373.49 | $34,599.31 |
| 109 | repay | $606.64 | $230.66 | $375.98 | $34,223.33 |
| 110 | repay | $606.64 | $228.16 | $378.48 | $33,844.85 |
| 111 | repay | $606.64 | $225.63 | $381.01 | $33,463.84 |
| 112 | repay | $606.64 | $223.09 | $383.55 | $33,080.30 |
| 113 | repay | $606.64 | $220.54 | $386.10 | $32,694.19 |
| 114 | repay | $606.64 | $217.96 | $388.68 | $32,305.52 |
| 115 | repay | $606.64 | $215.37 | $391.27 | $31,914.25 |
| 116 | repay | $606.64 | $212.76 | $393.88 | $31,520.37 |
| 117 | repay | $606.64 | $210.14 | $396.50 | $31,123.87 |
| 118 | repay | $606.64 | $207.49 | $399.15 | $30,724.73 |
| 119 | repay | $606.64 | $204.83 | $401.81 | $30,322.92 |
| 120 | repay | $606.64 | $202.15 | $404.49 | $29,918.43 |
| 121 | repay | $606.64 | $199.46 | $407.18 | $29,511.25 |
| 122 | repay | $606.64 | $196.74 | $409.90 | $29,101.36 |
| 123 | repay | $606.64 | $194.01 | $412.63 | $28,688.73 |
| 124 | repay | $606.64 | $191.26 | $415.38 | $28,273.35 |
| 125 | repay | $606.64 | $188.49 | $418.15 | $27,855.20 |
| 126 | repay | $606.64 | $185.70 | $420.94 | $27,434.26 |
| 127 | repay | $606.64 | $182.90 | $423.74 | $27,010.52 |
| 128 | repay | $606.64 | $180.07 | $426.57 | $26,583.95 |
| 129 | repay | $606.64 | $177.23 | $429.41 | $26,154.54 |
| 130 | repay | $606.63 | $174.36 | $432.27 | $25,722.27 |
| 131 | repay | $606.64 | $171.48 | $435.16 | $25,287.11 |
| 132 | repay | $606.64 | $168.58 | $438.06 | $24,849.05 |
| 133 | repay | $606.64 | $165.66 | $440.98 | $24,408.07 |
| 134 | repay | $606.64 | $162.72 | $443.92 | $23,964.16 |
| 135 | repay | $606.64 | $159.76 | $446.88 | $23,517.28 |
| 136 | repay | $606.64 | $156.78 | $449.86 | $23,067.42 |
| 137 | repay | $606.64 | $153.78 | $452.86 | $22,614.57 |
| 138 | repay | $606.63 | $150.76 | $455.87 | $22,158.69 |
| 139 | repay | $606.63 | $147.72 | $458.91 | $21,699.78 |
| 140 | repay | $606.64 | $144.67 | $461.97 | $21,237.81 |
| 141 | repay | $606.64 | $141.59 | $465.05 | $20,772.76 |
| 142 | repay | $606.64 | $138.49 | $468.15 | $20,304.60 |
| 143 | repay | $606.63 | $135.36 | $471.27 | $19,833.33 |
| 144 | repay | $606.64 | $132.22 | $474.42 | $19,358.91 |
| 145 | repay | $606.64 | $129.06 | $477.58 | $18,881.33 |
| 146 | repay | $606.64 | $125.88 | $480.76 | $18,400.57 |
| 147 | repay | $606.64 | $122.67 | $483.97 | $17,916.60 |
| 148 | repay | $606.63 | $119.44 | $487.19 | $17,429.41 |
| 149 | repay | $606.64 | $116.20 | $490.44 | $16,938.97 |
| 150 | repay | $606.64 | $112.93 | $493.71 | $16,445.26 |
| 151 | repay | $606.64 | $109.64 | $497.00 | $15,948.25 |
| 152 | repay | $606.64 | $106.32 | $500.32 | $15,447.94 |
| 153 | repay | $606.64 | $102.99 | $503.65 | $14,944.29 |
| 154 | repay | $606.64 | $99.63 | $507.01 | $14,437.28 |
| 155 | repay | $606.64 | $96.25 | $510.39 | $13,926.89 |
| 156 | repay | $606.64 | $92.85 | $513.79 | $13,413.10 |
| 157 | repay | $606.64 | $89.42 | $517.22 | $12,895.88 |
| 158 | repay | $606.64 | $85.97 | $520.67 | $12,375.21 |
| 159 | repay | $606.64 | $82.50 | $524.14 | $11,851.08 |
| 160 | repay | $606.64 | $79.01 | $527.63 | $11,323.45 |
| 161 | repay | $606.64 | $75.49 | $531.15 | $10,792.30 |
| 162 | repay | $606.64 | $71.95 | $534.69 | $10,257.61 |
| 163 | repay | $606.63 | $68.38 | $538.25 | $9,719.35 |
| 164 | repay | $606.64 | $64.80 | $541.84 | $9,177.51 |
| 165 | repay | $606.63 | $61.18 | $545.45 | $8,632.06 |
| 166 | repay | $606.64 | $57.55 | $549.09 | $8,082.97 |
| 167 | repay | $606.64 | $53.89 | $552.75 | $7,530.21 |
| 168 | repay | $606.64 | $50.20 | $556.44 | $6,973.78 |
| 169 | repay | $606.64 | $46.49 | $560.15 | $6,413.63 |
| 170 | repay | $606.64 | $42.76 | $563.88 | $5,849.75 |
| 171 | repay | $606.64 | $39.00 | $567.64 | $5,282.11 |
| 172 | repay | $606.63 | $35.21 | $571.42 | $4,710.69 |
| 173 | repay | $606.63 | $31.40 | $575.23 | $4,135.45 |
| 174 | repay | $606.64 | $27.57 | $579.07 | $3,556.39 |
| 175 | repay | $606.64 | $23.71 | $582.93 | $2,973.46 |
| 176 | repay | $606.63 | $19.82 | $586.81 | $2,386.64 |
| 177 | repay | $606.64 | $15.91 | $590.73 | $1,795.92 |
| 178 | repay | $606.64 | $11.97 | $594.67 | $1,201.25 |
| 179 | repay | $606.64 | $8.01 | $598.63 | $602.62 |
| 180 | repay | $606.64 | $4.02 | $602.62 | $0.00 |
How it works
During the draw period you borrow against your equity and pay only the interest that accrues each month. Payment = drawBalance × annualRate / 12. Because no principal is retired, the balance stays flat and so does the payment. This is the floor cost of carrying the line — comfortable for cash flow, but doing nothing to reduce what you owe.
At the end of the draw period the outstanding balance converts to a fully-amortized repayment loan. The same standard annuity formula used for mortgages applies: payment = balance × r / (1 − (1+r)⁻ⁿ), where r is the monthly rate and n is the repayment term in months. Because you are now paying down principal as well as interest, the required payment jumps sharply — this jump is the payment shock shown in the results. The ratio (shock / draw payment) expresses how large the increase is relative to what you were paying.
Available credit = home value × CLTV% − first-mortgage balance. CLTV (combined loan-to-value) is the lender's cap on total liens against the property; the equity line fills the gap between your first mortgage and that cap. For example, an $800,000 home at 85% CLTV with a $600,000 mortgage leaves $80,000 of potential HELOC availability. Whether you draw all of it or just part determines both the draw payment and the eventual repayment burden.
Frequently asked questions
What is a HELOC and how is it different from a home equity loan?+
A HELOC (home equity line of credit) is a revolving credit line secured by your home. During the draw period — typically 5–10 years — you can borrow, repay, and re-borrow up to the credit limit, paying interest only on the outstanding balance. A home equity loan (second mortgage) disburses a fixed lump sum upfront and amortizes immediately. The HELOC's interest-only draw phase makes initial payments lower but defers principal, creating a larger repayment obligation later. This calculator models a single draw of the full line; actual usage may vary.
Why does the payment jump so much at the repayment phase?+
During the draw period you pay only interest — none of your payment goes to principal. When the repayment phase begins, the full original balance is still outstanding and must now be repaid within the shorter remaining term. The shorter the repayment window relative to the draw period, the bigger the jump. A 10-year repayment on a $50,000 balance at 8% roughly doubles the monthly obligation compared with the interest-only payment. This is the payment shock the calculator highlights. Budget for it before drawing your line.
Is the interest on a HELOC tax-deductible?+
Under current US federal tax law, interest on a HELOC may be deductible only if the proceeds are used to buy, build, or substantially improve the home securing the line, and only if you itemize deductions. The deduction is subject to the $750,000 total acquisition-debt limit for mortgages originated after December 15, 2017. This calculator does not model tax effects. Consult a tax professional for guidance specific to your situation.