HELOC Total Cost Calculator

Plan smarter borrowing by modeling your credit line. Adjust rates, draws, and extra payments easily. Download schedules, track totals, and reduce surprises every month.

Calculator Inputs

Adjust fields, then press Calculate.

HELOC Basics

Start date Credit limit Initial balance (current draw)

Draw years

Repayment years

Compounding Optional: cap total months simulated

Use 0 to simulate full term.

Rate Settings

Rate type

Index APR (%)

Margin (%)

Adjustment interval (months)

Rate cap (%)

Expected annual index change (%)

Used to model future rate adjustments (can be negative).

Planned Draws

Monthly additional draw during draw phase Number of months to draw (0 = all draw months)

Payments & Fees

Draw phase payment mode Custom draw payment (used if custom) Extra principal during draw (optional)

Repayment phase payment mode Custom repayment payment (used if custom) Extra payment in repayment (optional)

Closing costs (one-time)

Annual fee

Monthly fee

Fee per draw

Roll fees into balance (they accrue interest)

Allow negative amortization (payment can be below interest)

Reset

Example Inputs and Outputs

These values are illustrative. Your totals will change with rates, fees, and payments.

Scenario	Limit	Initial Balance	Draw / Repay	Rate Type	Closing	Annual Fee	Estimated Total Cost
Sample A	$50,000	$20,000	10y / 15y	Variable (Index 5.25% + 2.50%)	$250	$75	$18,000–$28,000 (depends on rate path)
Sample B	$80,000	$35,000	5y / 10y	Fixed 8.00%	$300	$50	$16,000–$22,000 (payment sensitive)

Formula Used

Monthly interest: Interest = Balance × (APR ÷ 12).
Daily interest (optional): Interest = Balance × (APR ÷ 365) × DaysInMonth.
Amortizing payment (when selected): PMT = r×PV ÷ (1 − (1+r)⁻ⁿ) where r is monthly rate, PV is balance, and n is remaining months.
Total cost: Total Cost = Total Interest + Total Fees (principal excluded).
Effective APR (estimate): computed via IRR on cash flows from draws, payments, and fees.

How to Use This Calculator

Enter your credit limit, current balance, and start date.
Set draw and repayment years to match your agreement.
Choose fixed or variable rates, then set caps and adjustments.
Add fees and optional planned monthly draws or extra payments.
Press Calculate to see totals and payoff time.
Use Download CSV or Download PDF for the schedule.

Related Calculators

HELOC Interest Only Calculator HELOC Draw Period Calculator HELOC Repayment Period Calculator HELOC Rate Change Calculator HELOC APR Estimate Calculator HELOC Amortization Calculator HELOC Payoff Time Calculator HELOC Early Payoff Calculator HELOC Refinance Calculator HELOC Closing Costs Calculator

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.