Review monthly payments, interest costs, payoff speed, and savings. Test extra payments and compare scenarios. Make stronger equity decisions with organized figures and context.
| Scenario | Balance | APR | Years | Extra Monthly | Lump Sum | Base Payment | Adjusted Payoff | Interest Saved |
|---|---|---|---|---|---|---|---|---|
| Example A | $75,000.00 | 8.25% | 15 | $150.00 | $0.00 | $727.61 | 130 months | $17,530.97 |
| Example B | $90,000.00 | 7.10% | 20 | $200.00 | $3,000.00 in month 12 | $703.18 | 144 months | $36,095.92 |
This calculator models a standard amortizing HELOC balance during the repayment phase. It converts the annual rate to a monthly rate and then computes the required payment for the chosen term.
Monthly rate: r = Annual Rate / 12 / 100
Total scheduled months: n = Repayment Years × 12
Base monthly payment: Payment = P × r / [1 - (1 + r)-n]
If the rate is 0%, the formula becomes: Payment = P / n
Monthly interest: Interest = Current Balance × r
Monthly principal: Principal = Payment + Extra Monthly Payment - Interest
New balance: New Balance = Current Balance - Principal - Lump Sum Applied
The final payment is adjusted automatically so the ending balance reaches zero instead of going negative.
1. Enter the current HELOC balance that will move into repayment.
2. Add the annual interest rate being charged on the balance.
3. Enter the repayment term in years.
4. Add any extra monthly payment you plan to make.
5. If you expect a one-time reduction, enter the lump-sum amount and the month when it will be applied.
6. Choose the repayment start month if you want date-based schedule labels.
7. Click calculate to view payment details, payoff time, total interest, savings, the full schedule, and the graph.
8. Use the CSV and PDF buttons to export the schedule and summary for planning or lender review.
A HELOC usually has two phases. The draw phase may allow interest-only payments. The repayment phase usually requires full principal and interest payments. That change can create payment shock if the remaining balance is large.
This page helps estimate what that shift looks like. It also shows how extra monthly payments or a one-time lump-sum payment can reduce the payoff period and total interest. These estimates support budgeting, scenario testing, and faster debt reduction decisions.
It estimates the monthly payment needed during the repayment phase, how long payoff may take, total interest, and how extra payments or lump sums change the timeline.
No. It focuses on the repayment phase after the draw period ends. If your line is still interest-only, use the expected repayment balance rather than the temporary draw payment.
Yes. Extra monthly payments reduce principal faster, which lowers future interest charges. That usually cuts both the remaining months and the total borrowing cost.
A bonus, tax refund, or asset sale can reduce the balance at once. Modeling a lump sum shows how a single large payment may speed up payoff and lower interest.
No. It estimates principal and interest only. Some lenders may charge annual fees, account fees, or early closure fees, so compare your estimate with actual loan documents.
This version assumes the entered annual rate stays constant. If your rate is variable, rerun the calculator with updated rates to test new payment and payoff scenarios.
The last payment is adjusted so the balance ends at zero. That prevents overpaying when the standard payment would exceed the remaining principal plus final interest.
Yes. You can compare your current repayment path with a refinance quote by testing different rates, terms, and extra payment plans before making a decision.
Important Note: All the Calculators listed in this site are for educational purpose only and we do not guarentee the accuracy of results. Please do consult with other sources as well.