Free online HELOC (Home Equity Line of Credit) calculator. Enter your home value, mortgage balance, and credit line to calculate available equity, draw period payments, repayment period payments, and total interest. Perfect for evaluating home equity borrowing options.
Zero dependencies · Data never leaves your deviceA HELOC (Home Equity Line of Credit) is a revolving credit line secured by your home equity. You can borrow during the draw period (interest-only payments), then repay principal + interest during the repayment period.
LTV (Loan-to-Value) = total loan amount / home value. Most lenders allow a maximum LTV of 80-85%, meaning you can borrow up to 80-85% of your home equity.
During the draw period, you typically pay interest only: monthly payment = balance × APR ÷ 12. You can pay down principal anytime to reduce payments.
Repayment uses standard amortization: monthly = principal × monthly rate × (1+r)^n ÷ ((1+r)^n - 1), fully paying off the balance over the repayment term.