Equity Line of Credit Payments

Calculate monthly payments for a home equity line of credit (HELOC) during both draw and repayment periods.

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HELOC Details

$
$
%
10 years
20 years

Payment Summary

Available Credit$50,000

During Draw Period

Interest-Only Payment$354

During Repayment Period

Principal + Interest Payment$434
Total Repayment Amount$104,139
How it works›

Model and assumptions. Calculates interest on the remaining principal and applies the modeled payment to interest and then principal. Level payments use P × r / (1 − (1+r)^−n), with P/n at zero interest. Payment timing, fees and changing rates are included only where entered; a balloon or unpaid balance remains a liability.OpenStax: annuity formulas