HELOC Draw & Repayment Planner
Estimate the total amount you will pay on a home equity line of credit (HELOC) by combining the interest-only draw period with the fully amortising repayment period. Enter the amount you plan to draw, the annual interest rate, and the lengths of both phases to forecast cumulative payments.
CalcSimpler Examples
- $50,000 draw, 7% APR, 24-month draw, 180-month repayment ⇒ $87,894.54 total
- $35,000 draw, 6% APR, 12-month draw, 120-month repayment ⇒ $48,728.61 total
FAQ
Does the draw period payment include principal?
No. During the draw period the calculation assumes interest-only payments based on the outstanding balance and rate.
What happens if the interest rate changes?
Adjust the interest rate input to model a new scenario; the calculator assumes a constant rate over both phases.
Can I shorten the repayment period?
Yes. Enter a smaller number of repayment months to see how higher monthly payments reduce total interest.
Additional Information
- Interest-only draw payments are calculated as principal × monthly rate.
- Repayment uses the standard amortising loan formula based on the remaining balance, rate, and term.
- Total cost sums draw-phase interest and all repayment instalments.
CalcSimpler