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HOME EQUITY LINE OF CREDIT
HELOC Calculator
Calculate your home equity line of credit payments, credit limits, and repayment options.
🏠 Property Information
Current Home Value
$
Existing Mortgage Balance
$
📊 Credit Profile
Credit Score Range
740+ (Excellent)
700-739 (Good)
660-699 (Fair)
600-659 (Poor)
580-599 (Very Poor)
Below 580 (Poor)
Combined LTV Target (%)
80%
💳 HELOC Terms
Expected Interest Rate
7.5% APR
Draw Period (Years)
10 years
Repayment Period (Years)
20 years
Requested Credit Line
$
💰 Payment Scenario
Planned Initial Draw Amount
$
Approved Credit Line
$120,000
78% Combined LTV
Interest Rate
7.50%
Variable rate, Prime + 2.00%
Payment Calculator
Draw Period
$312/mo
Repayment
$971/mo
Payment Summary
Available Credit:
$70,000
Initial Draw:
$50,000
Remaining Credit:
$70,000
Total Interest Cost:
$45,720
HELOC Details & Amortization
$3,750
First Year Interest
$45,720
Total Interest Cost
2044
Payoff Date