HELOC Payment Calculator

HELOC Payment Calculator

Current Balance:
Interest Rate (%):
Payoff Goal Months:
Current Monthly Payment:
Additional Monthly Charges:
Annual Fee:
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HELOC Payment Definition

The HELOC (or home equity line of credit) Payment Calculator helps homeowners determine how much you must pay each month to pay down your mortgage by your goal in months. The calculator also shows how long it will take to pay your credit line if you continue to make payments at the current amount.

The default HELOC Payment calculator requires you to enter the following information before it can calculate your repayment period:

  • Current balance of loan
  • Interest rate of loan
  • Payoff goal (months from today)
  • Current payment amount
  • Additional charges
  • Annual fee

Entering all this information, which you can find in your mortgage contract or a recent bill from your bank, highlights how many months are required to pay off a mortgage/loan at the specific payment rate. It also allows you to see how you can repay that loan in a shorter time period by calculating the necessary monthly payment after you enters your loan and payment information.

Consumers can use the calculator to determine whether you’re on the right schedule with your payments or if you should increase payments. Double-check the estimates provided by your bank to make sure you’re getting the most bang for your buck.

High Interest Rates

High interest rates are one factor that can lead to a longer repayment period, and the HELOC payment calculator shows how your interest rates in addition to fees and other charges, including state or federal taxes, can results in a longer repayment period. You can also use our calculator to view the changes due to an increase or decrease in the interest rate on your home equity line of credit loan.

Our HELOC payment calculator helps you figure out how much a future loan might cost based on theoretical loan values and interest rates provided by your bank. However, actual loan payments may differ, and the HELOC payment calculator doesn’t account for changes to interest rates in the future. Nevertheless, our HELOC payment calculator allows for more variables than those by the competition, so you can get a more definite answer to your financial future.

The home equity loan calculator helps homeowners determine how much of an equity loan that you can take out against your home.

How to Calculate HELOC Payment

Let's be honest - sometimes the best heloc payment calculator is the one that is easy to use and doesn't require us to even know what the heloc payment formula is in the first place! But if you want to know the exact formula for calculating heloc payment then please check out the "Formula" box above.

Add a Free HELOC Payment Calculator Widget to Your Site!

You can get a free online heloc payment calculator for your website and you don't even have to download the heloc payment calculator - you can just copy and paste! The heloc payment calculator exactly as you see it above is 100% free for you to use. If you want to customize the colors, size, and more to better fit your site, then pricing starts at just $29.99 for a one time purchase. Click the "Customize" button above to learn more!