Short answer
A HELOC payment can look very different during a draw period than during repayment. An interest-only example uses balance x annual rate / 12. A repayment example uses standard amortization math over the repayment term.
Calculator
Draw-period interest-only example: $333.33 per month
Repayment-period amortizing example: $606.64 per month
Total repayment-period interest: $22,796.64
ILLUSTRATIVE EXAMPLE - NOT A LOAN OFFER. Actual payment rules, APR, fees, rate adjustments, minimums, and repayment terms vary by lender and product.
Draw period vs repayment period
During a HELOC draw period, some products may allow interest-only payments on the amount drawn. During repayment, draws may end and the balance may be repaid over a set term. Some products calculate payments differently, so review partner disclosures carefully.
Crawlable payment examples
ILLUSTRATIVE EXAMPLE - NOT A LOAN OFFER. These examples are generated from the same formulas documented below. They are not current market rates.
| Balance | Rate assumption | Payment type | Term assumption | Monthly payment | Total repayment / interest |
|---|---|---|---|---|---|
| $25,000 | 8% | Draw-period interest-only | Interest-only month | $166.67 | Interest varies by balance/rate |
| $25,000 | 8% | Repayment / amortizing | 120 months | $303.32 | $36,398.28 total; $11,398.28 interest |
| $50,000 | 8% | Draw-period interest-only | Interest-only month | $333.33 | Interest varies by balance/rate |
| $50,000 | 8% | Repayment / amortizing | 120 months | $606.64 | $72,796.56 total; $22,796.56 interest |
| $75,000 | 8.5% | Draw-period interest-only | Interest-only month | $531.25 | Interest varies by balance/rate |
| $75,000 | 8.5% | Repayment / amortizing | 120 months | $929.89 | $111,587.12 total; $36,587.12 interest |
| $100,000 | 8.5% | Draw-period interest-only | Interest-only month | $708.33 | Interest varies by balance/rate |
| $100,000 | 8.5% | Repayment / amortizing | 180 months | $984.74 | $177,253.12 total; $77,253.12 interest |
| $150,000 | 9% | Draw-period interest-only | Interest-only month | $1,125.00 | Interest varies by balance/rate |
| $150,000 | 9% | Repayment / amortizing | 180 months | $1,521.40 | $273,851.98 total; $123,851.98 interest |
Rate-change sensitivity
The table below uses the same interest-only formula as the calculator. It shows how the monthly estimate changes when only the illustrative rate changes.
| Balance | Illustrative rate | Interest-only monthly estimate | Important limitation |
|---|---|---|---|
| $50,000 | 7% | $291.67 | Not a current market rate or lender quote. |
| $50,000 | 8.5% | $354.17 | Not a current market rate or lender quote. |
| $50,000 | 10% | $416.67 | Not a current market rate or lender quote. |
Reviewed October 3, 2026. Examples are generated from shared calculator formulas and are for education only.
Methodology and formulas
Interest-only monthly payment = balance x annual rate / 12. Amortizing monthly payment = balance x monthly rate x (1 + monthly rate)n / ((1 + monthly rate)n - 1), where n is the repayment term in months. If the rate is 0%, the amortizing payment is balance divided by term months.
Limitations
This calculator does not include fees, APR differences, rate caps, introductory rates, minimum draw rules, payment caps, future draws, credit review, property review, or lender-specific payment formulas. Borrow Home Equity is not a lender and does not set rates or approve loans.
Sources
- CFPB: What is a HELOC?
- CFPB: What you should know about home equity lines of credit
- CFPB Regulation Z: home equity plan disclosures
Frequently Asked Questions
What does this HELOC payment calculator estimate?
It estimates illustrative interest-only draw-period payments and amortizing repayment-period payments using the inputs shown on the page.
Is the interest rate a current HELOC rate?
No. Rates shown in examples are illustrative assumptions only and are not current market rates, quotes, or offers.
Do all HELOCs have interest-only payments?
No. Payment structures vary by lender and product. Review partner disclosures before accepting any offer.