HELOC (Home Equity Line of Credit) Payment Calculation
Instantly calculates your monthly HELOC payments (both Principal and Interest).
HELOC Payment Calculator
Determine home equity loan payments with our calculator.
Home Equity Line of Credit(HELOC) Formulas
Monthly Interest Only Payment = CHB × RATE
Monthly Principal & Interest Payment = (CHB × RATE) × ( (1 + RATE) (12 × RP) ) / ( (1 + RATE) (12 × RP) - 1 )
CHB is Current HELOC Balance
RP is Repayment Period (years)
RATE(monthly interest rate) = Decimal Rate / 12 , or RATE = (Annual Interest Rate / 100) / 12