HELOC payment calculator: How to calculate home equity line of credit payments

A home equity line of credit, or HELOC, is a revolving line of credit secured by the equity in your home. You can access available funds during the draw period and repay the remaining balance during the repayment period, subject to your account terms.

Enter a value in each field or adjust the sliders. The payment summary, chart, table and amortization schedule update automatically as you change your assumptions.

1. Enter the loan amount. Use the HELOC amount or outstanding balance you want to model. If you expect to make additional draws, run another scenario with a higher balance.
2. Enter the interest rate. Use the rate you want to test. A variable rate can rise or fall over time, so consider comparing the current rate with a higher-rate scenario.
3. Enter the draw period. This is the number of years when you can access available funds from the line, subject to your agreement.
4. Choose the draw-period payment method. Select Interest Only to model payments based on interest on the outstanding balance. Select 1/360 + Interest to model a payment that includes 1/360 of the outstanding balance plus interest, subject to the minimum payment entered in the calculator.
5. Enter the repayment period. This is the number of years used to repay the remaining balance after the draw period ends.
6. Enter the minimum payment. Use the minimum monthly payment that applies to the scenario you want to test.
7. Review the results. Compare the first and last draw-period payments with the repayment-period payment. Then use the chart, table and amortization views to see how principal, interest and the remaining balance may change over time.

The calculator estimates payments using the information you enter. Check your HELOC agreement for the payment method, minimum payment, rate and term that apply to your account.

Your Line of Credit Summary includes:

• Loan amount: The amount or balance used in the calculation.
• First draw-period payment: The estimated payment at the beginning of the draw period.
• Last draw-period payment: The estimated payment at the end of the draw period.
• Repayment-period payment: The estimated principal-and-interest payment during repayment.

The Chart view shows principal paid, interest paid and the ending balance over time. Use the table view for year-by-year values and the amortization view for a detailed payment schedule.

When reviewing your estimate, consider how the following can affect your payment:

• Balance changes: Additional draws increase the balance, while principal payments reduce it.
• Variable interest rates: A rate increase or decrease can change the required payment.
• The end of the draw period: Your payment may increase when repayment begins because principal and interest are due over a set term.

During the draw period, a HELOC payment may cover interest only or include interest and a portion of principal. When the repayment period begins, payments generally include both principal and interest. Your balance, interest rate and repayment term can all affect the payment.

Try more than one rate and balance scenario before relying on the estimate for budgeting. Learn more about the Regions HELOC repayment period.

If your primary goal is to estimate how long repayment could take, use the home equity payoff calculator.

No. The calculator provides an estimate based on the information you enter. The result may not be the payment used to qualify an applicant for a line of credit.

Actual payments, rates and terms depend on the approved account and its agreement.

A HELOC payment calculator uses the balance, interest rate, draw-period payment method and repayment period you enter to estimate monthly payments. It can help you compare scenarios and understand how changes to those inputs may affect the estimate. Calculator results are not an offer, approval decision or guarantee of payment terms.

The calculator estimates the interest portion of a payment using the outstanding balance and interest rate you enter. Changes to the balance or interest rate may affect the estimated interest amount and monthly payment.

The minimum payment depends on the terms of the line of credit and may differ by payment period. Enter the minimum payment that applies to your scenario in the calculator. Your account agreement will identify the payment terms that apply to your account.

Enter the balance, interest rate, draw-period length and payment method in the calculator. The calculator uses those inputs to estimate draw-period payments. The actual payment method and amount are determined by the terms of your account agreement.

There is no single monthly payment for a $100,000 HELOC. The estimated payment depends on the interest rate, outstanding balance, payment method and applicable term. Enter $100,000 along with the rate and terms you want to evaluate in the calculator to view an estimate.