HELOC Calculator

Calculate payments for a Home Equity Line of Credit. Estimate interest-only payments and credit limits.

Home Value

Current Mortgage Balance

Lender LTV Limit (%)

Typically 80%, 85%, or 90%.

HELOC Interest Rate (%)

Estimated Draw Amount

How much you plan to borrow right now.

Max HELOC Limit

$90,000

Based on 85% LTV

Est. Monthly Payment

$354

Interest Only (Draw Period)

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Unlock Your Home's Equity

Turn your home into a powerful financial tool! Our HELOC Calculator helps you estimate your borrowing power with a Home Equity Line of Credit. Unlike a lump-sum loan, a HELOC works like a credit card secured by your house. Enter your home value, mortgage balance, and lender's LTV limit to see exactly how much cash you can access for renovations, debt consolidation, or emergency funds.

Interest-Only Payment Planning

During the "draw period" (usually 10 years), you often only pay interest on what you borrow. This calculator estimates those low initial payments so you can budget effectively. It also helps you prepare for the "repayment period," when payments jump significantly to cover principal. Understanding this transition is critical to avoiding payment shock down the road.

Finance Fact: HELOC rates are variable and tied to the "Prime Rate." When the Fed raises rates, HELOC payments go up almost immediately, unlike fixed-rate mortgages!

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