Interest-only draw period followed by an amortizing repayment period.
How to use this calculator
Every field updates the result as you type — there is no submit step. The inputs below are pre-filled with a realistic example so you can see how the tool behaves before entering your own figures.
| Field | Unit | What it means |
|---|---|---|
| Amount drawn | $ | Enter a numeric value. |
| Interest rate | % | Enter a numeric value. |
| Draw period | yrs | Enter a numeric value. |
| Repayment period | yrs | Enter a numeric value. |
Worked example
Using the default values loaded into the calculator above, the result is:
| Input | Value |
|---|---|
| Amount drawn ($) | 60000 |
| Interest rate (%) | 8.5 |
| Draw period (yrs) | 10 |
| Repayment period (yrs) | 20 |
| Output | Value |
|---|---|
| Interest-only payment | $425.00 |
| Payment after draw period | $520.69 |
| Interest paid during draw | $51,000.00 |
| Interest during repayment | $64,966.55 |
| Total interest | $115,966.55 |
| Payment shock | $95.69 |
Reading the result
Financial projections compound small assumption changes into large differences over time. Rates, fees and tax treatment vary by lender and jurisdiction, so treat the output as a well-structured estimate for comparing options rather than a quotation.
Figures that change annually — tax bands, contribution limits, statutory rates — are exposed as editable inputs. Check them against current published values before relying on the result.
Sharing and saving a calculation
The "Copy link" button encodes every value you have entered into the page URL. Opening that link restores the calculation exactly, which makes it easy to bookmark a scenario, send it to someone else, or keep several variations side by side in separate tabs.
Frequently asked questions
What does the HELOC Calculator do?
Interest-only draw period followed by an amortizing repayment period.
What result do the default values produce?
With the values pre-loaded in the calculator, interest-only payment comes to $425.00.
Is this calculator free to use?
Yes. It is free, requires no account, and runs entirely in your browser — nothing you enter is transmitted or stored on a server.
Can I save or share a calculation?
Yes. The "Copy link" button builds a URL containing all your entered values. Anyone opening that link sees the same calculation.
How accurate is the result?
The calculation itself is exact for the inputs given. Real-world accuracy depends on how well those inputs reflect your actual situation, so review the assumptions before relying on the figure.