Loan Calculators

Equity Line of Credit Payments

A home equity line has two phases: low interest-only payments while you draw, then higher payments once principal repayment begins. See both.

Inputs

Outstanding balance

Interest rate

Repayment period (years)

Estimates only. Change any value to recalculate instantly.

Interest-only payment $283.33 then $495.94/mo once principal repayment starts

Interest-only (draw) $283.33

Repayment payment $495.94 +$212.61/mo

Interest in repayment $19,513

Balance $40,000

The payment jump

Interest-only $283
Added principal $213

Balance (repayment phase) Balance

During the draw period you pay only interest, so the balance does not fall. When the repayment phase begins the payment jumps by $212.61 — budget for it before it arrives.

Repayment-phase amortizationView table

Year	Principal	Interest	Balance
1	$2,653	$3,298	$37,347
2	$2,888	$3,064	$34,459
3	$3,143	$2,808	$31,316
4	$3,421	$2,531	$27,896
5	$3,723	$2,228	$24,173
6	$4,052	$1,899	$20,121
7	$4,410	$1,541	$15,711
8	$4,800	$1,151	$10,910
9	$5,224	$727	$5,686
10	$5,686	$265	$0

How this calculator works

This calculator runs entirely in your browser — nothing you enter is sent anywhere, and there is no sign-up. Change any input and the result, breakdown, and schedule update instantly.

Rate and cost fields are pre-filled with current benchmarks (Federal Reserve / Freddie Mac via FRED (St. Louis Fed)), so your first result is already realistic — replace them with your own quote to see your numbers. To weigh one option against another, use the loan comparison calculator.

Common questions

Is this calculator free, and do I need to sign up?

Yes and no — it is completely free and asks for no account or personal details. Every calculation happens in your browser, so nothing you type is stored or sent to us.

How accurate are the results?

The math is exact for the inputs you give it, but the defaults are national benchmarks — your real rate, fees, taxes, and insurance will differ. Treat the result as a close estimate to refine with a real quote.