Heloc calculator

Compare interest-only carrying cost with an amortizing payment on a drawn credit-line balance.

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Heloc calculator processes your input in this browser. Inputs and results are excluded from analytics. Recent tools save tool names, visit counts and last-visit times. Saved tools store only their names. Draft saving is optional and stays on this device; delete saved text with the draft controls. Loading text from a URL is optional and contacts that server; its URL and your IP address are visible to the server. An optional “Use in” action keeps a handoff in this tab. The next tool removes it on arrival and ignores it if more than a minute has passed.

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Outstanding drawn balance

Annual nominal rate (%)

More inputs and assumptions

Repayment term after draw period (months)

Answer

…

Compare interest-only carrying cost with an amortizing payment on a drawn credit-line balance.

More results

Precision and calculation record

Decimal places in numeric results and text downloads

Rounding changes displayed numbers, not the calculation. Text, fractions, matrices and CSV schedules keep their own formatting. Automatic keeps up to 12 significant digits, with money shown to cents where applicable.

Step-by-step calculation

Inputs are substituted below. Each line evaluates the next operation; intermediate values are displayed to 12 significant digits while the calculation uses full precision.

Saved scenario

Save the current answer, then change an input to compare. This clears when you leave.

Formula and assumptions

Interest-only payment = balance × annual rate/12. Repayment uses a fixed-rate monthly model. HELOC terms, minimum payments, daily accrual, variable rates, additional draws and lender eligibility are not modeled.

Automatic precision shows numbers to 12 significant digits. Thousands separators such as 1,000 are accepted; use a dot for decimals.

Scratch calculator

Check another calculation

Use +, −, ×, ÷, parentheses and %. A percentage is divided by 100. This does not change the main tool.

Reset reloads the tool with its starting values and releases open files and device controls. Saved drafts stay on this device until you delete them.

Links include your inputs and settings. Anyone with the link can see them, so leave out private text. Files and generated results are left out; random draws run again.

Keyboard shortcuts

Updated 2026-09-26

Using Heloc calculator

Compare interest-only carrying cost with an amortizing payment on a drawn credit-line balance.

Next: Loan calculator

A worked example

Example inputs: outstanding drawn balance = 10000, annual nominal rate (%) = 12, repayment term after draw period (months) = 120. Interest-only monthly payment = 100.

Before you use the result

Example results for outstanding drawn balance

These examples use Annual nominal rate (%): 12; Repayment term after draw period (months): 120. They are reference calculations, not recommended settings.

Outstanding drawn balance	Interest-only monthly payment
5000	50
10000	100
20000	200

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ToolOctopus. “Heloc calculator.” Updated 2026-09-26. https://tooloctopus.com/heloc-calculator.

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