Leave blank to use max: $90,000.00
Home Equity
$150,000
Max HELOC Amount
$90,000
Total Interest
$173,950
Total Cost
$263,950
Draw Period (10 years)
Interest-Only Payments
$637.50
per month
Repayment Period (20 years)
Principal + Interest Payments
$781.04
per month
| Draw Amount | Draw Payment | Repay Payment | Total Interest | Total Cost |
|---|---|---|---|---|
| $22,500(25%) | $159.38 | $195.26 | $43,487.45 | $65,987.45 |
| $45,000(50%) | $318.75 | $390.52 | $86,974.91 | $131,974.91 |
| $67,500(75%) | $478.13 | $585.78 | $130,462.36 | $197,962.36 |
| $90,000(100%) | $637.50 | $781.04 | $173,949.82 | $263,949.82 |
| Year | Phase | Payments | Principal | Interest | Balance |
|---|---|---|---|---|---|
| Year 1 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 2 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 3 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 4 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 5 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 6 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 7 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 8 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 9 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 10 | Draw Period | $7,650.00 | $0.00 | $7,650.00 | $90,000.00 |
| Year 11 | Repayment | $9,372.49 | $1,791.21 | $7,581.28 | $88,208.79 |
| Year 12 | Repayment | $9,372.49 | $1,949.53 | $7,422.96 | $86,259.26 |
| Year 13 | Repayment | $9,372.49 | $2,121.85 | $7,250.64 | $84,137.41 |
| Year 14 | Repayment | $9,372.49 | $2,309.41 | $7,063.08 | $81,828.00 |
| Year 15 | Repayment | $9,372.49 | $2,513.54 | $6,858.95 | $79,314.46 |
| Year 16 | Repayment | $9,372.49 | $2,735.71 | $6,636.78 | $76,578.75 |
| Year 17 | Repayment | $9,372.49 | $2,977.52 | $6,394.97 | $73,601.23 |
| Year 18 | Repayment | $9,372.49 | $3,240.71 | $6,131.78 | $70,360.52 |
| Year 19 | Repayment | $9,372.49 | $3,527.16 | $5,845.33 | $66,833.37 |
| Year 20 | Repayment | $9,372.49 | $3,838.93 | $5,533.56 | $62,994.44 |
| Year 21 | Repayment | $9,372.49 | $4,178.25 | $5,194.24 | $58,816.19 |
| Year 22 | Repayment | $9,372.49 | $4,547.57 | $4,824.92 | $54,268.62 |
| Year 23 | Repayment | $9,372.49 | $4,949.54 | $4,422.96 | $49,319.08 |
| Year 24 | Repayment | $9,372.49 | $5,387.03 | $3,985.46 | $43,932.05 |
| Year 25 | Repayment | $9,372.49 | $5,863.19 | $3,509.30 | $38,068.86 |
| Year 26 | Repayment | $9,372.49 | $6,381.45 | $2,991.04 | $31,687.41 |
| Year 27 | Repayment | $9,372.49 | $6,945.51 | $2,426.98 | $24,741.90 |
| Year 28 | Repayment | $9,372.49 | $7,559.43 | $1,813.06 | $17,182.47 |
| Year 29 | Repayment | $9,372.49 | $8,227.61 | $1,144.88 | $8,954.86 |
| Year 30 | Repayment | $9,372.49 | $8,954.86 | $417.63 | $0.00 |
Draw Period (10 years)
During the draw period, you can borrow up to your credit limit and only pay interest on the amount you have drawn. Your minimum payment is interest-only, meaning your balance does not decrease unless you make extra principal payments.
Repayment Period (20 years)
After the draw period ends, you can no longer borrow. Your payments now include both principal and interest, and the payment amount will be higher than during the draw period. The balance is fully amortized over the repayment period.
LTV (Loan-to-Value)
Most lenders allow a maximum combined LTV of 80-90%. With a 85% max LTV, your combined mortgage + HELOC cannot exceed $340,000 on a home valued at $400,000.