HELOCRATESTHE BORROWING COST REFERENCE

Rates. Payments. The terms in between.

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YOUR NUMBERS. A CLEARER PICTURE.

HELOC payment calculator

See the difference between paying interest and paying off the balance. Then test the same debt at a higher rate.

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Build a payment scenario.

Starting values are hypothetical, not current rates.

SAME BALANCE. DIFFERENT PAYMENTS.

Look at both stages.

Some HELOCs allow interest-only payments during the draw period. A later repayment period may add principal to the payment.

Calculate a scenario to see both, side by side.

How this estimate works

The interest-only estimate is balance × annual interest rate ÷ 12. The fully amortizing estimate uses a constant monthly rate and equal monthly payments over the entered term. The higher-rate scenario adds the selected percentage points immediately to both calculations; it is a stress test, not a prediction.

For $50,000 at a hypothetical 8%, estimated monthly interest only is $333.33. Paying the same balance off over 15 years at a constant 8% requires about $477.83 a month. At 10%, those estimates are $416.67 and $537.30. Principal payments explain part of the change even without a rate increase.

No new draws, fees, taxes, insurance, payment rounding, or daily accrual differences are included. Your agreement may require principal during the draw period, a different repayment method, or a balloon payment. The modeled rate stays constant for the entire term; an actual variable-rate balance may not.

Background: CFPB HELOC booklet · CFPB home equity plan disclosures. Calculations and scenarios on this page are original illustrations.

Make sense of the results.

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