HELOC Calculator

A home equity line of credit usually charges interest only during the draw period, then switches to a fully amortized payment. Enter the amount drawn, the rate and the length of each period to see both payments and the total interest across the life of the line. A second mode estimates how large a line you could open from your home value, the mortgage you still owe and a lender loan-to-value limit. Rates on most credit lines are variable, so treat the later payment as a snapshot rather than a promise.