HELOC Calculator
Calculate your maximum Home Equity Line of Credit (HELOC) and estimated monthly payments during draw and repayment periods.
HELOC Calculator
Tax Deductible Interest
Since you're using funds for home improvements, you may deduct up to $24,160 in interest over the life of the loan. Consult a tax professional.
Loan-to-Value ratio determines your maximum credit line
Equity Summary
HELOC Structure
Draw Period (10 years): Borrow as needed, make interest-only payments
Repayment Period (20 years): No more draws, pay principal + interest until paid off
Total Term: 30 years
Draw Summary
Balance Over Time
Total Cost Breakdown
HELOC Tips & Warnings
- Flexibility: Borrow only what you need, when you need it
- Tax benefits: Interest may be deductible if used for home improvements
- Variable rates: Monthly payments can increase if rates rise
- Payment shock: Payments can jump significantly in repayment phase
- Home at risk: Your home is collateral - default means foreclosure
- Make principal payments: Pay down balance during draw period to reduce shock
Related Financial Calculators
Amortization Calculator
Calculate your loan amortization schedule and see how each payment is split between principal and interest over time.
APR Calculator
Calculate and analyze your apr with this free online tool.
Auto Loan Affordability Calculator
Calculate the maximum vehicle price you can afford based on your desired monthly payment. Includes down payment, trade-in, and sales tax.
Auto Loan Calculator
Calculate your car loan monthly payment including vehicle price, down payment, trade-in value, sales tax, and interest.
Balloon Payment Calculator
Calculate monthly payments and the final balloon payment for balloon loans. See total interest and plan for the large final payment.
Bridge Loan Calculator
Calculate interest-only payments and total costs for bridge loans. Bridge loans provide short-term financing while transitioning between properties.