🏠 HELOC Payment & Credit Line Calculator
Determine your maximum allowable Home Equity Line of Credit based on current property appraisal, outstanding mortgage balance, and simulate draw vs repayment monthly costs.
$
$
%
US standard: 80% to 85%
%
Variable prime + margin
$
Actual funds borrowed from the line
Max Available HELOC Credit Line
$100,000
Using $50,000 of available line
🏡 Total Home Value$450,000
📊 Total Accumulated Equity$190,000
🏦 1st Mortgage Balance$260,000
💳 Interest-Only Monthly Draw Pay$344/mo
📈 Full Principal Repayment (20-yr)$426/mo
Understanding Home Equity Lines of Credit (HELOC)
A HELOC functions like a high-limit credit card secured by the equity in your home. Lenders generally permit combined borrowing (First Mortgage + HELOC) up to 80% or 85% of your property's appraised value.
Draw Period vs. Repayment Period
Most HELOCs feature a 10-year draw period where you are only required to make monthly interest payments on the balance you actually use. After year 10, the loan enters a 20-year repayment period where you must pay both principal and interest, causing payments to rise significantly.