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HELOC Calculator 2026

Find out how much home equity you can borrow, what you'll pay during the draw and repayment periods, and the payment jump to plan for.

Your Home

Home value

Mortgage balance remaining

Max combined LTV

HELOC Terms

Amount you want to borrow

Interest rate %

Credit score

Draw period (yrs) Repayment (yrs)

Payment during draw Extra payment in repayment (optional)

You could borrow up to

$102,500

at 85% combined LTV · you plan to draw $100,000

Home equity

$170,000

LTV after

84.4%

Equity left

$70,000

Your monthly payment

Draw period · 10 yrs

$729

interest only

Repayment · 20 yrs

$884

principal + interest

Your payment jumps by $155/mo when the repayment period begins — budget for the higher figure, not the draw-period one.

Total cost

Total interest over life$199,591

Total repaid (principal + interest)$299,591

HELOC vs Home Equity Loan

HELOC (this plan)

$199,591

total interest

Fixed HEL · 15 yrs @ 7.5%

$66,862

total interest · $927/mo

Home equity loan saves $132,728 in interest vs this HELOC.

Estimate only. HELOC rates are variable and lenders set their own LTV caps, margins, and minimum-payment rules. Confirm terms with your lender.

How the HELOC Numbers Work

How much you can borrow. Lenders cap your combined loan-to-value (LTV) — usually 80–90%. Your maximum line is roughly home value × LTV limit − mortgage balance. The calculator applies your chosen LTV cap and shows the result, plus the LTV you'd land at after drawing.

The draw period. For the first several years you can borrow and typically pay interest only — a low monthly figure. Choose interest-only, principal + interest, or a 1% minimum to see how each affects the balance by the time repayment begins.

The repayment period — and the jump. When the draw window closes, whatever balance remains must be amortized over the repayment term. That's why the monthly payment often rises sharply. The warning under the payment cards shows exactly how big that jump is, so you can budget for the higher number from day one.

Key Terms at a Glance

Combined LTV	Mortgage + HELOC as a percentage of home value — the main borrowing limit.
Draw period	Years you can borrow, usually paying interest only.
Repayment period	Years after the draw window when you pay principal + interest.
Payment jump	The increase from the low draw payment to the higher repayment payment.

Frequently Asked Questions

How much can I borrow with a HELOC?

Most lenders let your total secured debt (existing mortgage plus the HELOC) reach 80–90% of your home's value. Subtract what you still owe from that percentage of the value and the remainder is roughly what you can draw. This calculator uses your chosen LTV cap to show the maximum.

What is the difference between the draw period and the repayment period?

During the draw period (often 10 years) you can borrow and usually pay only interest. After it ends, the repayment period (often 10–20 years) begins and you must pay principal plus interest until the balance is gone.

What is the HELOC "payment jump"?

Because draw-period payments are typically interest-only, they're low. When repayment starts, the same balance must be paid down, so your monthly payment can jump by hundreds of dollars. The calculator shows both figures and the difference so you're not caught off guard.

Are HELOC interest rates fixed or variable?

Almost always variable — tied to the prime rate plus a margin. When the Fed moves, your rate and payment move with it. Enter your expected rate here; adjust it up to stress-test your budget.

HELOC vs. home equity loan — which is better?

A HELOC is flexible revolving credit with a variable rate and low initial payments; a home equity loan is a lump sum at a fixed rate with steady payments. If you value flexibility, choose the line; if you want predictable payments and rate protection, the fixed loan often wins. The comparison card shows the total-interest difference on your numbers.

What credit score do I need for a HELOC?

Many lenders want 680 or higher, and the best rates go to 740+. A lower score usually means a higher margin over prime and sometimes a lower LTV cap. Pick your credit tier to see how it shifts your rate.

Available on Google Play

Model the full amortization on your phone

The HELOC Calculator: Home Equity app adds a year-by-year amortization schedule, side-by-side HELOC vs home equity loan comparison, and saved scenarios — all on your device, no bank account needed.

Download on Google Play