HELOC Payment Calculator
Calculate your monthly HELOC (Home Equity Line of Credit) payment based on loan balance, interest rate, and repayment term.
HELOC Payment Calculator – Estimate Your Home Equity Line of Credit Payments
A Home Equity Line of Credit (HELOC) is one of the most flexible financing tools available for homeowners. It allows you to borrow against the equity in your home and use the funds for renovations, debt consolidation, emergencies, or major purchases. But before taking a HELOC, it’s essential to understand how much your monthly payments will be.
Our HELOC Payment Calculator helps you instantly calculate your monthly payment based on the loan balance, annual interest rate, and repayment term. Whether you are planning to borrow or already have a HELOC and want to estimate future payments, this calculator provides fast, accurate results.
⭐ What Is a HELOC?
A HELOC is a revolving credit line secured by your home. It works like a credit card—borrow as needed, repay, and borrow again, as long as you stay within your limit.
HELOC typically has two phases:
🔹 1. Draw Period
You can borrow and make interest-only payments.
🔹 2. Repayment Period
No more borrowing; you start making principal + interest payments.
The calculator here reflects the repayment period, where fixed monthly payments apply.
⭐ How the HELOC Payment Calculator Works
The calculator uses the standard amortization formula to determine:
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Monthly Payment (EMI)
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Total Interest Paid
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Total Amount Payable
You simply enter:
✔ Loan Balance (₹)
The amount you owe or plan to borrow.
✔ Annual Interest Rate (%)
Fixed or estimated rate during repayment.
✔ Repayment Term (Years)
Typically between 10–20 years.
The tool automatically converts the interest rate into a monthly rate and calculates the amortized payment.
⭐ Formula Used in the Calculator
Where:
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P = Loan balance
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R = Monthly interest rate (annual rate / 12)
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N = Total months (years × 12)
This formula ensures accurate and consistent monthly payment results.
⭐ Why Use a HELOC Payment Calculator?
A HELOC can be complicated because interest can change over time. This calculator helps you:
✔ Estimate future monthly payments
✔ Compare repayment terms (10, 15, 20 years)
✔ Understand how interest affects total cost
✔ Budget more accurately
✔ Decide how much to borrow
✔ Avoid financial surprises
⭐ Example Calculation
If you borrow:
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Loan balance: ₹10,00,000
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Interest rate: 9%
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Term: 10 years
Your results will look like:
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Monthly Payment: ~₹12,668
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Total Interest: ~₹5,20,000
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Total Payable: ~₹15,20,000
This shows how interest adds to the overall cost of borrowing.
⭐ Who Should Use This Calculator?
This tool is perfect for:
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Homeowners planning to take a HELOC
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Borrowers entering the repayment phase
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Realtors & financial advisors
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Mortgage brokers
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Investors evaluating home equity financing
⭐ Benefits of Our HELOC Calculator
✨ Fast & error-free
✨ Uses accurate amortization formula
✨ Mobile-friendly
✨ Modern and clean design
✨ Works for any loan size
✨ Helps with financial planning
⭐ Conclusion: Calculate HELOC Payments with Confidence
A HELOC is a powerful financial tool, but understanding your monthly payment obligations is crucial. Our HELOC Payment Calculator helps you estimate payments instantly, plan your budget effectively, and make smart borrowing decisions.
Use it before applying for a HELOC or anytime you want to understand your repayment amount.