HELOC Calculator

K-12

Credit line at your lender's loan-to-value limit, the interest-only payment, and the jump when repayment starts.

Line inputs

Home value

A recent appraisal or a fair estimate; the lender will order its own.

Mortgage balance

Combined loan-to-value limit

Mortgage plus line, as a share of value. 80–85% is typical; some lenders go to 90%.

Interest rate

Usually the prime rate plus a margin, and it moves when prime does.

Amount you'll draw

You can borrow up to $125,000N1 against this home. Drawing $50,000 costs $323N3 a month interest-only, rising to $410N4 in year 11.

Plan K-127.75% variable, 10-year draw and 20-year repayment. Estimates, not a loan offer.

Credit limitN1: $125,000; $200,000 of equity
Loan-to-value after drawN2: 70%; limit 85%
Payment while drawingN3: $323/mo; interest only
Payment in repaymentN4: $410/mo; +$88 more

Your home's value, split

$500,000: what's owed, what you can draw, and what the lender leaves alone

Mortgage balance: $300,000; 60%
Your draw: $50,000; 10%
Credit left on the line: $75,000; 15%
Equity above the limit: $75,000; 15%
Home value: $500,000; 100%

The two phases of the line

Interest-only while you draw, then principal and interest

Phase	Years	Monthly payment	Interest paid
Draw, interest-only	1–10	$323	$38,750
Repayment	11–30	$410	$48,514
Total	30	—	$87,264

Estimates for education only, not a loan offer. HELOC rates are variable, so both payments move with the prime rate. Assumes the full draw on day one and interest-only payments until repayment starts.