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HELOC Repayment Calculator
When your HELOC’s draw period ends, the repayment period begins — and your payment jumps from interest-only to principal plus interest. Enter your balance, APR, and repayment term to see exactly what that payment will be.
Your result
Estimates only, for education — not financial advice. Most HELOC rates are variable and payments will change if your rate changes. Verify figures with your lender.
How the repayment payment is calculated
During repayment, your HELOC works like a regular amortizing loan: each monthly payment covers that month’s interest plus a slice of principal, so the balance falls to zero by the end of the term. The payment comes from the standard amortization formula: P × r(1+r)n ÷ ((1+r)n − 1), where P is the balance, r the monthly rate, and n the number of payments.
Worked example
A $50,000 balance at 8.5% APR repaid over 20 years (240 payments) gives a monthly payment of about $433.91 — roughly $79 more than the $354.17 interest-only payment on the same balance. Total interest over the 20 years comes to about $54,138.
Why the payment jumps
The jump surprises many borrowers because draw-period payments cover interest only. Going from $354 to $434 a month on $50,000 is typical; on larger balances the gap is bigger. Lenders call this payment shock, and it’s the main reason to run these numbers before the draw period ends.
Ways to prepare
Paying down principal during the draw period shrinks the balance that gets amortized — every extra dollar then compounds in your favor. Refinancing into a new HELOC or a fixed home equity loan before repayment begins is another option; our guide to refinancing a HELOC walks through the trade-offs.
Frequently asked questions
What is the HELOC repayment period?
The repayment period is the phase after the draw period ends, when you can no longer borrow and must pay down the balance. It commonly lasts 15 to 20 years, with payments covering both principal and interest.
Is the repayment payment fixed?
The payment is amortized like a mortgage, but most HELOC rates are variable — so if the prime rate moves, your payment moves with it. Some lenders let you lock part of the balance at a fixed rate.
Can I still draw money during the repayment period?
No. Once the draw period ends, the credit line closes to new borrowing. You repay the outstanding balance over the repayment term.
What if I can’t afford the higher repayment payment?
Talk to your lender before you miss payments — options can include refinancing into a new HELOC, converting to a fixed-rate home equity loan, or extending the term. Missing payments puts your home at risk.
Do extra payments during the draw period help?
Yes. Every dollar of principal you repay during the draw period is a dollar that won’t be amortized — and charged interest on — during repayment. Use the HELOC payoff calculator to see the effect.