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Runs in your browser · Last updated 7 September 2026

Free HELOC Payment Calculator (US)

Free HELOC payment calculator. Interest-only or amortizing draw, first-year interest, and 85% CLTV flag. Browser tool — nothing is uploaded.

Interest-only: monthly = draw × rate / 12. Principal does not fall. Combined LTV 57.5%. Not a lender quote.

Monthly payment

$354.17

First-year interest

$4,250

Interest over term (if IO stays)

$42,500

CLTV

57.5%

How to use this tool

  1. Enter the draw, rate, and optional first-mortgage + home value.
  2. Toggle interest-only or an amortizing term.
  3. Read the monthly payment and CLTV.

Worked example

A $40,000 interest-only draw at 9% is $300 a month ($3,600 the first year). The same draw amortized over 10 years at 8.4% is a higher payment because principal is included. A $80,000 line on a $300,000 house that already has $180,000 on the first mortgage is 86.7% CLTV — over a common 85% cap.

Frequently asked questions

Interest-only vs amortizing?
Interest-only monthly = draw × annual rate / 12. The balance does not fall. Amortizing uses a standard fully amortizing payment on the drawn amount.
What CLTV is flagged?
Combined loan-to-value of first mortgage + HELOC draw over home value. Many lenders start tightening near 85%.
Is this the same as HELOC vs cash-out?
No. This page is payment-only. Use the HELOC vs cash-out refinance calculator to compare a line against a new first mortgage.
Variable rate?
Type the rate you want to stress. The page does not forecast prime or SOFR resets.
Uploaded?
No.