Calculate HELOC payments for both phases: interest-only during the draw period and principal + interest during repayment.
| Input | Result |
|---|---|
| $50,000 at 8.5%, 10-yr draw, 15-yr repay | $354.17/mo → $492.37/mo |
| $100,000 at 7.5%, 10-yr draw, 20-yr repay | $625.00/mo → $805.59/mo |
| $25,000 at 9%, 5-yr draw, 10-yr repay | $187.50/mo → $316.69/mo |
During the draw period you pay interest only, so the balance never drops. When repayment starts, the full balance must amortize over the remaining years, principal is added on top of interest, and the payment typically rises 40% or more.
Usually yes, and it is the smartest move: every dollar of principal you repay early cuts both the interest-only payment and the future repayment amount. Run the numbers with a lower balance to see the effect.
Most HELOCs are variable (prime + margin), so payments move with the market. This calculator uses a constant rate, stress-test by entering a rate 2% higher to see the worst-case payment.
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