Calculators
HELOC Calculator
Calculate the home equity line of credit available, the interest-only payment during the draw period and the repayment-period payment.
- Runs in your browser
- Nothing uploaded
The tool
Enter your numbers below. Results update as you type, and nothing leaves your browser.
Everything you enter stays on your own machine. Nothing is sent to us or to anyone else, which you can confirm in your browser network tab.
What people use it for
- Funding home improvements
- Estimating borrowing capacity
- Planning payments
- Comparing a HELOC with a personal loan
About this tool
What the HELOC Calculator does
A home equity line of credit (HELOC) lets you borrow against your home up to a combined loan-to-value limit. During the draw period payments are usually interest-only; in the repayment period the balance is amortised, so payments rise. This calculator shows the line available and both payments.
Formula
- Credit line = home value × maximum CLTV − mortgage balance
- Interest-only payment = drawn balance × rate ÷ 12
- Repayment = amortised payment on the drawn balance
Worked example
Using the starting values in the calculator above:
| Input | Value |
|---|---|
| Home value | $500,000 |
| Mortgage balance | $280,000 |
| Maximum combined loan-to-value | 85% |
| Amount drawn | $50,000 |
| HELOC rate | 8.5% |
| Repayment period | 20 |
| Result | Value |
|---|---|
| Maximum credit line | $145,000 |
| Interest-only payment (draw period) | $354.17 |
| Payment in repayment period | $433.91 |
| Payment increase at repayment | $79.74 |
| Combined loan-to-value after drawing | 66.0% |
How to read the result
Most HELOC rates are variable; test a rate one or two points higher to see the effect on payments.
Plan for the jump in payments when the draw period ends; many borrowers are surprised by it.
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Questions
Questions about this tool
The things clients actually want to know — costs, timelines, ownership and what happens after launch.
Typically up to 80% to 90% of your home's value, minus your mortgage balance.
Often during the draw period, then principal and interest during repayment.
Usually variable, though some lenders offer fixed-rate options on part of the balance.
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