HELOC Calculator

Calculate HELOC payments for draw and repayment periods. See max available credit and total interest cost.
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years
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Max HELOC Available

$80,000.00

Interest-Only Payment

$354.17/mo

During draw period

P&I Payment

$433.91/mo

During repayment

HELOC Details

HELOC Amount$50,000.00
Combined LTV73.3%
Draw Period Interest-Only$354.17/mo
Repayment Period P&I$433.91/mo
Interest During Draw Period$42,500.00
Interest During Repayment$54,138.79
Total Interest Paid$96,638.79

HELOC vs Cash-Out Refinance

HELOC Monthly (repayment)$433.91/mo
Cash-Out Refi Monthly (7%, 30yr)$2,195.50/mo
HELOC Total Interest$96,638.79
Cash-Out Refi Total Interest$460,379.36

Use the HELOC Calculator above to calculate your results. Enter your values and see instant results — all calculations run in your browser.

Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.

How It Works

A HELOC (Home Equity Line of Credit) calculator determines how much you can borrow against your home's equity and estimates your monthly payments. With home values continuing to rise in 2026 and interest rates fluctuating between 7-9%, understanding your HELOC potential is crucial for major expenses like renovations or debt consolidation.

The calculator uses your home's current market value minus your outstanding mortgage balance to determine available equity, then applies your lender's loan-to-value ratio (typically 80-85%). Monthly payments are calculated using the outstanding balance, current interest rate, and whether you're in the draw period (interest-only) or repayment period (principal and interest).

Remember that HELOCs typically have variable interest rates that can increase over time, significantly affecting your payments. Many borrowers underestimate the payment shock when transitioning from the interest-only draw period to the repayment period. Always factor in potential rate increases and avoid borrowing the maximum available amount to maintain financial flexibility.

HELOC Calculation for $450,000 Home with $180,000 Mortgage Balance

  1. 1 Current home value is $450,000 with an outstanding mortgage balance of $180,000, giving you $270,000 in available equity before considering lender restrictions.
  2. 2 With an 85% loan-to-value ratio, maximum borrowing capacity is ($450,000 × 0.85) - $180,000 = $382,500 - $180,000 = $202,500 available HELOC credit line.
  3. 3 If you draw $150,000 at a 8.25% variable rate during the 10-year draw period, your monthly interest-only payment would be $150,000 × 0.0825 ÷ 12 = $1,031.25.
  4. 4 After the draw period ends, the $150,000 balance amortized over 20 years at 8.25% results in a monthly payment of $1,284, representing a $253 increase from the interest-only period that borrowers must budget for in advance.

Source: CFPB — Owning a Home · Last updated: April 2026

Frequently Asked Questions

What is the current HELOC interest rate in 2026?
Average HELOC rates in 2026 range from 7.5% to 9.5% depending on your credit score, LTV ratio, and lender. HELOCs have variable rates tied to the prime rate, which is currently around 7.5%.
How does a HELOC draw period work?
During the draw period (typically 10 years), you can borrow up to your credit limit and usually pay only interest. After the draw period ends, you enter the repayment period (10-20 years) and must pay principal plus interest.
Is HELOC interest tax deductible?
HELOC interest is tax deductible only if the funds are used to buy, build, or substantially improve the home securing the loan, and your total mortgage debt is under $750,000. Using HELOC funds for other purposes like debt consolidation is not deductible.

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