Estimate the payment and interest on a home equity line of credit.
What this calculator does
Enter the drawn balance, rate and term to estimate the payment on a HELOC. Rates are often variable, so treat the figure as a snapshot.
How to fill it in
- Enter your figures in the fields provided.
- The result updates as you type.
- Review the breakdown below the main number.
The formula
payment = P × r ÷ (1 − (1+r)⁻ⁿ)
Worked example
Take the starting scenario, a loan amount of 250,000. That gives a monthly payment of $1,580.17. Underneath, Monthly payment comes out at $1,580.17 and Total paid at $568,861.22. Change any field and every figure updates as you type.
Frequently asked questions
What is a HELOC?
A revolving credit line secured by your home, which you can draw from and repay over time.
Are HELOC rates fixed?
Often variable, so payments can change. Enter your current rate for an estimate.