HELOC payment calculator
A HELOC payment depends on your drawn balance, APR, and whether you are in the interest-only draw period or the amortized repayment period. Use the calculator below to estimate both.
Interest-only payment: $333/mo
Amortized (20-yr repayment): $418/mo
Illustrative estimate only — not an offer to lend. Rates are variable.
How it's calculated
This tool estimates two payments. During the interest-only draw period, your payment is roughly your drawn balance multiplied by your APR, divided by 12 — so a $50,000 balance at 8.5% is about $354 a month. Once repayment begins, the balance amortizes over the remaining term, so principal is added in and the payment climbs. Enter your balance, APR, and term to compare both figures side by side.
Frequently asked questions
How is my interest-only HELOC payment calculated?
Multiply your current drawn balance by your APR, then divide by 12. A $40,000 balance at 9% is roughly $300 a month. Because rates on most HELOCs are variable, this figure moves up or down whenever the index changes, so treat it as an estimate.
Why is my payment higher in the repayment period?
In the draw period you typically pay interest only. When repayment begins, the balance amortizes over the remaining term, so each payment now covers principal plus interest. That added principal can push the payment substantially higher, which is why many borrowers plan ahead for the shift.