HELOC Calculator

A home equity line of credit works in two phases. During the **draw period** you usually pay interest only; during **repayment** the balance amortizes like a mortgage. Enter your home value, your first-mortgage balance and the rates to see the largest line you qualify for (capped by an 85% combined loan-to-value limit), your interest-only draw payment and the monthly repayment payment.

Tool Features

• Maximum credit line from an 85% combined loan-to-value cap
• Available equity after your first mortgage
• Interest-only monthly payment during the draw period
• Amortized monthly payment during repayment
• Estimated total interest across both phases

Common Usage

• See how much equity you can tap without refinancing
• Compare a HELOC vs a cash-out Mortgage
• Plan a renovation budget off the draw-period payment
• Check your buying power with the House Affordability Calculator