Line of Credit Payoff

When will your line of credit be paid off? Use this calculator to see what it will take to payoff your line of credit, and what you can change to meet your repayment goals.

At CURRENT_MONTHLY_PAYMENT per month you will pay off your credit line in CURRENT_MONTHLY_MSG.

To pay off your line of credit balance of CURRENT_BALANCE in MONTHS_TO_PAYOFF_GOAL months you need to pay CALCULATED_MONTHLY_PAYMENT per month. This includes your additional monthly purchases of MONTHLY_CHARGES and your future cash draws and assumes no additional charges such as late fees. If you keep your monthly payment at CURRENT_MONTHLY_PAYMENT you will pay off your credit line in CURRENT_MONTHLY_MSG. **GRAPH**
Results Summary
Current balance CURRENT_BALANCE
Additional monthly charges MONTHLY_CHARGES
Current monthly payment CURRENT_MONTHLY_PAYMENT
Annual fee ANNUAL_FEE
Interest rate (APR) INTEREST_RATE
Rate change (per year) RATE_CHANGE_PER_YEAR
Payoff goal (in months) MONTHS_TO_PAYOFF_GOAL
Draw one DRAW_ONE in MONTHS_FROM_NOW_ONE month(s) from now
Draw two DRAW_TWO in MONTHS_FROM_NOW_TWO month(s) from now
Draw three DRAW_THREE in MONTHS_FROM_NOW_THREE month(s) from now
Draw four DRAW_FOUR in MONTHS_FROM_NOW_FOUR month(s) from now
Payoff with a CURRENT_MONTHLY_PAYMENT payment CURRENT_MONTHLY_MSG
Payoff in MONTHS_TO_PAYOFF_GOAL months requires CALCULATED_MONTHLY_PAYMENT per month

Payment schedule with your current payment of CURRENT_MONTHLY_PAYMENT

**REPEATING GROUP**

Line of Credit Payoff Definitions

Current balance
Current outstanding balance on your line of credit.
Payoff goal (in months)
Your goal for paying off this line of credit. This is the number of months by which you would like to have completely paid off this line of credit balance.
Current monthly payment
The amount you are currently paying per month on this line of credit. Please enter the amount you actually pay, not the minimum payment. This amount is used to calculate how long it will take you to payoff your balance.
New charges per month
Total new charges you expect to put on this line of credit per month.
Rate change (per year)
If you expect the interest to change in the next year, use this to indicate how much. For decreasing rates, enter negative numbers.
Interest rate (APR)
The annual percentage rate for this line of credit.
Annual fee
Your annual fee for this line of credit.
Draw
Amount to draw from this line of credit.
Months from now
Number of months from now before your draws will occur.


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