💵 HELOC Payment Calculator
A HELOC payment calculator computes your monthly payment in both phases of a home equity line: interest-only payments during the draw period, then the higher amortized payment during repayment. See the payment jump coming, total interest, and the full cost of what you borrow.
HELOC details
Draw period payment (interest-only)
$354.17/mo
For the first 10 years
Repayment period payment
$433.91/mo
Years 11–30 (principal + interest)
⚠ Payment shock: when the draw period ends, your payment jumps by $79.74/month ($354.17 → $433.91). Budget for this before it arrives — it is the most common HELOC surprise.
Interest during draw phase
$42,500.40
Interest during repayment
$54,138.40
Total cost of borrowing
$146,638.80
Assumes the balance stays fully drawn through the draw period and the rate stays constant — real HELOC rates are variable (typically prime + margin) and will move your payment. Paying principal during the draw period reduces both phases' interest.
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Frequently asked questions
How are HELOC payments calculated?▾
What is HELOC payment shock?▾
Are HELOC rates fixed or variable?▾
Can I pay principal during the HELOC draw period?▾
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Disclaimer: This calculator is for informational and educational purposes only. Results are estimates and not financial advice. Consult a licensed financial advisor before making financial decisions.