HELOC Calculator
Estimate your HELOC draw and repayment payments, total interest and available credit line based on your home equity.
Draw period
Repayment period
Credit line
$280,000
Home value minus balance owed
Draw-period payment
$1,633.33/mo
Interest-only during the draw period
Repayment-period payment
$3,323.65/mo
Principal + interest
Total interest
$314,838
A HELOC is a revolving line of credit against your home equity, with an interest-only draw period followed by full repayment.
How it works
Interest-only payment = drawn amount × monthly rate. Repayment payment = amortised over remaining term.
Example: $50,000 drawn at 7.5% → $312/month interest-only; ~$403/month over 20 years.
HELOC Calculator on True Calculator gives you an instant, accurate answer with no sign-up and no app install. Estimate your HELOC draw and repayment payments, total interest and available credit line based on your home equity. Every result shows the formula and a worked example so you can verify the calculation yourself, and all values are computed in your own browser — your numbers never leave your device.
Popular uses: heloc calculator · home equity line of credit calculator · heloc payment calculator
Last updated: August 2026
How We Calculate
This calculator uses standard mathematical formulas verified by our team. All calculations are performed instantly in your browser using JavaScript — no data is sent to any server. The formulas used are industry-standard and match those used by banks, financial institutions and health organizations.
For financial calculators, we use RBI-approved formulas and regularly updated bank rates. For health calculators, we use WHO-recommended formulas and medical standards. All rates and standards are sourced from official government and regulatory websites.
Frequently Asked Questions
What is a HELOC?
A Home Equity Line of Credit is a revolving credit line secured by your home, with a variable interest rate. You draw what you need and pay interest only on the amount used.
How do HELOC draw and repayment periods work?
During the draw period (typically 10 years) you can borrow and make interest-only payments. In the repayment period (typically 20 years) you can no longer draw and must repay principal plus interest.
How much will my HELOC payment be?
It depends on how much you've drawn, the current variable rate and whether you're in the draw or repayment period. This calculator estimates your minimum interest-only and fully amortised payments.
Is this HELOC calculator free to use?
Yes, True Calculator's HELOC calculator is completely free with no sign-up, no app install and no usage limits.
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