What a lender's appraisal would say the home is worth.

Everything you still owe on loans secured by the home. Enter 0 if you own it outright.

The most your lender allows against the home (mortgage + line of credit) as a share of its value. 80% is only an example; every lender sets its own.

Amount drawn

The model draws this once and makes no further draws.

Federal Reserve H.15 bank prime loan rate on September 28, 2026. Use your lender's index if it differs.

Added to the index. An example only; your lender sets it.

Interest-only payments.

Principal + interest.

Fees & extra payments

Counted for each year of the draw period.

One-time costs from your lender's estimate.

Paid on top of interest during the draw period.

Interest-only payment in the draw period

$375.00 / mo

Then $449.86 a month for 20 years once repayment starts (20.0% higher)

Credit limit

$70,000

Payment when repayment starts

$449.86

Total interest

$102,967

This model assumes you draw the full amount on day one and make no further draws. Because HELOC rates are variable, the repayment payment is an estimate: it assumes today’s rate stays the same and the balance is paid off in equal monthly payments over the repayment period.

Home value
$400,000
Mortgage balance
$250,000
Credit limit with a CLTV limit of 80%
$70,000
Amount drawn
$50,000
Credit still available (no further draws modeled)
$20,000
New combined LTV (mortgage + amount drawn)
75%
Interest rate (index + margin)
7% + 2% = 9%
Interest-only payment, draw period
$375.00
Balance when repayment starts
$50,000
Payment once repayment starts
$449.86
Payment shock (increase)
+20.0%
Interest during the draw period
$45,000
Interest during repayment
$57,967
Total interest
$102,967
Fees (closing costs + annual fees)
$0
Total cost including fees
$102,967

If your rate rises

Rate changeRateDraw payment (interest only)Payment in repaymentTotal interest
No change9%$375.00$449.86$102,967
+1 point10%$416.67$482.51$115,803
+2 points11%$458.33$516.09$128,863
+3 points12%$500.00$550.54$142,130

Each row assumes that rate applies for the whole plan, to show the size of the change. What actually happens depends on your contract: how often the rate adjusts and how high it can go.

Balance over time

$0$13K$25K$38K$50KYr 1Yr 6Yr 11Yr 16Yr 21Yr 26Yr 30
  • Balance at year end

Average monthly payment by year

Yr 1 — Interest: $375Yr 2 — Interest: $375Yr 3 — Interest: $375Yr 4 — Interest: $375Yr 5 — Interest: $375Yr 6 — Interest: $375Yr 7 — Interest: $375Yr 8 — Interest: $375Yr 9 — Interest: $375Yr 10 — Interest: $375Yr 11 — Interest: $372Yr 12 — Interest: $365Yr 13 — Interest: $357Yr 14 — Interest: $348Yr 15 — Interest: $338Yr 16 — Interest: $328Yr 17 — Interest: $316Yr 18 — Interest: $304Yr 19 — Interest: $290Yr 20 — Interest: $275Yr 21 — Interest: $259Yr 22 — Interest: $241Yr 23 — Interest: $221Yr 24 — Interest: $200Yr 25 — Interest: $176Yr 26 — Interest: $150Yr 27 — Interest: $122Yr 28 — Interest: $92Yr 29 — Interest: $58Yr 30 — Interest: $21Yr 11 — Principal: $78Yr 12 — Principal: $85Yr 13 — Principal: $93Yr 14 — Principal: $102Yr 15 — Principal: $112Yr 16 — Principal: $122Yr 17 — Principal: $134Yr 18 — Principal: $146Yr 19 — Principal: $160Yr 20 — Principal: $175Yr 21 — Principal: $191Yr 22 — Principal: $209Yr 23 — Principal: $229Yr 24 — Principal: $250Yr 25 — Principal: $274Yr 26 — Principal: $299Yr 27 — Principal: $328Yr 28 — Principal: $358Yr 29 — Principal: $392Yr 30 — Principal: $429$0$125$250$375$500Yr 1Yr 6Yr 11Yr 16Yr 21Yr 26Yr 30
  • Interest
  • Principal

Year-by-year schedule

YearPhaseInterestPrincipalPaid in the yearEnding balance
1Draw$4,500$0$4,500$50,000
2Draw$4,500$0$4,500$50,000
3Draw$4,500$0$4,500$50,000
4Draw$4,500$0$4,500$50,000
5Draw$4,500$0$4,500$50,000
6Draw$4,500$0$4,500$50,000
7Draw$4,500$0$4,500$50,000
8Draw$4,500$0$4,500$50,000
9Draw$4,500$0$4,500$50,000
10Draw$4,500$0$4,500$50,000
11Repayment$4,462$936$5,398$49,064
12Repayment$4,374$1,024$5,398$48,039
13Repayment$4,278$1,120$5,398$46,919
14Repayment$4,173$1,225$5,398$45,694
15Repayment$4,058$1,340$5,398$44,354
16Repayment$3,932$1,466$5,398$42,887
17Repayment$3,795$1,604$5,398$41,284
18Repayment$3,644$1,754$5,398$39,530
19Repayment$3,480$1,919$5,398$37,611
20Repayment$3,300$2,098$5,398$35,513
21Repayment$3,103$2,295$5,398$33,218
22Repayment$2,888$2,511$5,398$30,707
23Repayment$2,652$2,746$5,398$27,961
24Repayment$2,395$3,004$5,398$24,957
25Repayment$2,113$3,286$5,398$21,671
26Repayment$1,805$3,594$5,398$18,078
27Repayment$1,467$3,931$5,398$14,147
28Repayment$1,099$4,300$5,398$9,847
29Repayment$695$4,703$5,398$5,144
30Repayment$254$5,144$5,398$0
Show monthly schedule

Annual fees are counted for each year of the draw period; check your agreement for how long yours is charged. Property taxes, insurance and your first mortgage payment are not included.

HELOC Calculator by SureCalcs