Live 2025 Fed Rate Data

The #1 Free HELOC Calculator

See your true payment shock when the draw period ends. 100% anonymous, no registration required, and bank-level accuracy.

🔒 No Credit Check
🛡️ 100% Private
🏦 Updated Daily

📝 Your Loan Details

$50,000
$15k Max: $140,000
ⓘ What's this?
Draw Period (Interest-Only) 10 years
5 yrs 15 yrs
Repayment Period (P+I) 20 years
10 yrs 25 yrs
Total Loan Term: 30 years
Current Prime Rate: 6.75%
Loading rate data...
Excellent (740+)
7.50%
Good (670-739)
9.00%
Fair (580-669)
10.75%
Poor (<580)
13.00%

📊 Your Results

Initial Monthly Payment
$385
Interest-only for the first 10 years
DRAW PERIOD (1-10 YRS)
$385
Interest Only
REPAYMENT (11-30 YRS)
$457
Principal + Interest
⚠️
Payment Shock Warning: Your monthly payment will increase by 18.7% when the repayment period begins. That's an extra $72/month.

Why Use Our Free HELOC Calculator?

Most bank HELOC calculators hide the "payment shock" that happens after 10 years. Our HELOC payment calculator shows you the full picture with real-time Fed data.

👁️

Reveal Hidden Costs

See exactly how much your payment will increase when the interest-only period ends. Don't get caught off guard.

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100% Anonymous

We don't ask for your email, phone number, or name to see results. Your financial data stays in your browser.

Live Fed Data

Our calculator pulls the latest Prime Rate directly from the Federal Reserve API, ensuring 2025 accuracy.

HELOC Calculator Comparison: HELOC vs. Alternatives

Is a Home Equity Line of Credit (HELOC) right for you? Use our calculator to compare your home equity options.

Feature HELOC Home Equity Loan Cash-Out Refinance
Interest Rate Type Variable (usually) Fixed Fixed
Distribution As-needed (Line of Credit) Lump Sum Lump Sum
Closing Costs Low / None Moderate High
Monthly Payments Interest-only (initially) Principal + Interest Principal + Interest
Best For Ongoing projects, emergency funds One-time large expense Lowering overall mortgage rate

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How to Use Our HELOC Calculator

A step-by-step guide to calculating your home equity line of credit payments

Our HELOC calculator helps you understand the true cost of a Home Equity Line of Credit. Unlike basic calculators, we show you the critical "payment shock" that occurs when your draw period ends and full principal + interest payments begin.

Step 1: Enter Your Property Value

Start by entering your home's current market value. This determines your maximum borrowing capacity, typically 80-85% of your home's value minus any existing mortgage balance.

Step 2: Set Your HELOC Amount

Use the slider to select how much you plan to borrow. Our HELOC payment calculator will instantly show you the monthly payment during both the draw period and repayment period.

Step 3: Select Your Credit Score

Your credit score determines the margin added to the Prime Rate. Excellent credit (740+) typically gets the best HELOC rates, while lower scores may see rates 3-6% higher.

Step 4: Review Payment Shock Analysis

The most important feature of our HELOC calculator is the payment shock analysis. See exactly how much your payment will increase when the interest-only draw period ends - often doubling or tripling your monthly obligation.

HELOC Calculator FAQ

What is a HELOC draw period? +
The draw period is the initial phase of a HELOC, typically lasting 10 years. During this time, you can borrow money up to your credit limit and usually only need to make interest payments. You can also pay back principal to replenish your credit line.
Why did my HELOC payment double? +
This is known as "payment shock." When your draw period ends (usually after 10 years), you enter the repayment period. You can no longer borrow money, and you must start paying back the principal balance plus interest. Since the repayment term is often only 10-20 years, the monthly payments are significantly higher.
How is the interest rate calculated? +
HELOC rates are typically variable and based on the Prime Rate plus a margin. The margin is determined by your credit score and loan-to-value ratio. For example, if the Prime Rate is 8.5% and your margin is 1%, your rate would be 9.5%.
Is HELOC interest tax deductible? +
Under current tax law (Tax Cuts and Jobs Act of 2017), HELOC interest is only deductible if the funds are used to "buy, build, or substantially improve" the taxpayer's home that secures the loan. Using funds for other purposes like debt consolidation is not deductible. Consult a tax professional.