HELOC Calculator

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

By Konstantin Iakovlev · Updated April 2026 · Source: CFPB — Owning a Home

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years
years

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 calculator answers two related questions: how much you can draw against your home's equity and what the monthly payments are likely to run. As home values keep climbing into 2026 and rates hover in the 7-9% range, those figures help you weigh whether a line of credit makes sense for a renovation, debt consolidation, or another sizable expense.

Available equity starts with your home's current market value less the outstanding mortgage balance, then gets trimmed by your lender's loan-to-value ratio, often in the 80-85% band. Payments depend on the outstanding balance, the current interest rate, and which phase you're in, whether the interest-only draw period or the repayment period that adds principal on top.

Most HELOCs carry variable rates, so a payment that looks manageable today can climb as rates move. The sharpest jump usually arrives when the interest-only draw period ends and full principal-and-interest payments begin, a shift many borrowers underestimate. Build room for rate increases into your plan, and stop short of drawing the full line so you keep some financial flexibility in reserve.

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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