Estimates are for informational purposes only. Actual rates and payments will vary. See our Disclaimer.
Use a recent appraisal or estimate
Current outstanding balance
Most lenders allow 80–85%
Available Equity
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Est. HELOC Limit
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Combined LTV
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Estimated borrowing power based on your inputs. Actual approval depends on income, credit history, and lender underwriting. See our Disclaimer.
No personal data required
Secure & private
Rates updated weekly
Reviewed by financial experts
How to use the HELOC calculator
1
Choose your calculator
Use the Monthly Payment tab if you know how much you want to borrow and want to see the cost. Use the Borrowing Power tab if you want to know your maximum credit limit first.
2
Enter your numbers
For payments: enter your draw amount, interest rate, draw period, and repayment period. Check our rates page for current average rates to use as a baseline.
3
Review your results
Pay attention to both the draw period payment (lower) and the repayment period payment (higher). Always budget for the repayment payment before drawing on a HELOC.
Calculator frequently asked questions
Why are there two different payment amounts?
A HELOC has two phases. During the draw period (typically 10 years), most lenders only require interest-only payments — which is why the draw period payment is lower. When the repayment period begins, you can no longer draw and must repay the full balance with both principal and interest over the remaining term — which is why the repayment payment is higher. Always budget for the repayment payment before opening a HELOC.
What interest rate should I enter?
Use our current average rates from the HELOC Rates Today page as a starting point based on your credit score. For a conservative estimate, model a rate 1–2% higher than current averages to account for potential future rate increases — since most HELOCs are variable rate products tied to the Prime Rate.
How accurate are these estimates?
The calculator uses standard financial formulas and produces accurate estimates based on the inputs you provide. However, actual HELOC payments will vary based on your specific lender's terms, the actual rate you are offered, any fees included in your agreement, and how the rate changes over time on a variable product. Use these estimates for planning and comparison purposes — always verify with your actual lender before making financial decisions.
Does using this calculator affect my credit score?
No — this is an anonymous estimation tool that requires no personal information. No credit check is performed. Your credit score is completely unaffected by using this calculator. Only a formal HELOC application with a lender triggers a hard credit inquiry that can temporarily affect your score.
Calculator disclaimer: Results are estimates for informational purposes only based on the values entered. They do not constitute a loan offer, pre-qualification, or guarantee of any rate or credit limit. Actual HELOC terms vary by lender and individual borrower profile. Always verify with a licensed lender before making financial decisions. See our full Disclaimer.