A 75,000 balance at 9 percent
A $75,000 balance at 9% has an estimated interest-only payment of $562.50 per month. A later repayment payment can be much higher because it must also repay principal over a limited term.
HELOCPlan • Home equity credit estimate
HHELOC Payment Calculator: Draw & Repayment Period
Estimate interest-only HELOC payments, a later amortized repayment payment and sensitivity to rate changes.
Check your awardLoading, overtime and penalty-rate interactions can differ by award, agreement, age and shift.
Loaded casual hourly rate
$33.05$991.50 weekly gross pay$6.61 loading per hour$0.00 overtime pay
Estimate before tax, allowances and award-specific penalty rules.
Using this tool
Plan for both phases of a HELOC
Enter the current HELOC balance and variable rate, then the remaining draw and repayment periods. HELOCPlan compares an interest-only draw-period payment with a fully amortized payment after the draw period.
Reading the output
Repayment can be much higher than interest-only
Interest-only and amortized payments
Interest-only payment equals balance times annual rate divided by 12. The repayment estimate amortizes the current balance over the selected repayment term at the current rate.
Prepare for variable-rate changes
- Expect the payment to change when the variable rate changes.
- Check whether your agreement requires principal during the draw period.
- Do not treat the available credit limit as affordable debt.
Before relying on the result
HELOC rates, draws and repayment
Why can my HELOC payment rise suddenly?
The variable rate can increase, and payments often switch from interest-only to principal plus interest when the draw period ends.
Does this predict my future HELOC rate?
No. It uses the current rate you enter and separately shows the effect of a one-percentage-point increase.