Install FinCalc
Add to your home screen for quick access
Home & Equity
Enter your home value and existing mortgage balance.
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Available equity: $170,000 · Max HELOC: $102,500
HELOC Terms
Set your line amount, rate, and draw/repayment periods.
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%
yr
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HELOC Estimate
Interest-only payments during draw, then amortized repayment.
Payment Summary$354.17/mo draw
$354.17
Draw Period Payment (interest-only)
$433.91
Repayment Period Payment
$96,639
Total Interest
$146,639
Total Cost (principal + interest)
Phase Comparison
| Draw Period | Repayment Period | |
|---|---|---|
| Duration | 10 years | 20 years |
| Monthly Payment | $354.17 | $433.91 |
| Payment Type | Interest only | Principal + interest |
| Total Interest | $42,500 | $54,139 |
| Balance | $50,000 | $0 |
During the 10-year draw period you pay $354.17/mo in interest. Repayment rises to $433.91/mo for 20 years.