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HELOC Payment Calculator

Use this calculator to generate an estimated amortization schedule for your HELOC. Quickly see how much interest you could pay and your estimated principal balances. You can even determine the impact of any principal prepayments. Press the "View Report" button for a full yearly or monthly amortization schedule.

HELOC Payment Calculator Definitions

Principal balance
Original or expected principal balance for your HELOC.
Term in months
The number of months over which you will repay this loan.
Interest rate
Current interest rate for this HELOC.
Starting monthly payment
Monthly principal and interest payment (PI).
Total payments
Total of all monthly payments over the full term of the HELOC. This total payment amount assumes that there are no prepayments of principal, and no change in the interest rate.
Total interest
Total of all interest paid over the full term of the HELOC. This total interest amount assumes that there are no prepayments of principal and no change in the interest rate.
Draw type
The frequency of future draws. The options are none, monthly, yearly and one-time.
Draw amount
Amount that will be drawn on your HELOC. This amount will be added to the HELOC principal balance, based on the draw type.
Draw(s) start with payment
This is the payment number that your draw will begin with. For a one-time, this is the payment number when a single draw is added to your principal balance. All draws are assumed to happen at the beginning of the month, before any payments are made and will increase the interest starting immediately. If you choose a one-time draw for payment number zero, the draw is assumed to happen before the first payment of the loan.
Draw(s) end with payment
This is the last payment number you will have a draw. For a one-time draw, this is not used. For yearly draws, the last yearly draw will happen on this payment number or earlier if the payment is mid-year.
Prepayment type
The frequency of prepayment. The options are none, monthly, yearly and one-time payment.
Prepayment amount
Amount that will be prepaid on your HELOC. This amount will be applied to the HELOC principal balance, based on the prepayment type.
Start with payment
This is the payment number that your prepayments will begin with. For a one-time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation. If you choose to prepay with a one-time payment for payment number zero, the prepayment is assumed to happen before the first payment of the loan.
End with payment
This is the last payment number you will have a prepayment applied. For a one-time prepayment, this is not used. For yearly prepayments, the last yearly prepayment will happen on this payment number or earlier if the prepayment is mid-year.
Savings
Total amount of interest you will save by prepaying your HELOC.