HELOC Payment Calculator — Repayment Phase
The end-game view: when the draw period closes, the balance amortizes over the repayment term and the minimum payment jumps. $50,000 at 8.5% over 15 years costs $492.37 a month with $38,626.56 of lifetime interest; squeezing the term to 10 years raises the payment to $619.93 but cuts interest to $24,391.41. The page exists because this jump — $138.20 a month in the 15-year case — is the part borrowers least expect.
HELOC estimate
Repayment-phase payment
$492.37
per month to clear the balance in 15 years
Breakdown
HELOC rates are variable; this estimate holds the rate constant. Not a credit decision or an offer of credit.
Term length is the lever you control
The rate is the market's; the repayment term is largely the product's, and it sets the trade between payment size and total interest. Fifteen years on $50,000 at 8.5% means $492.37 a month and $38,626.56 in interest; ten years means $619.93 and $24,391.41 — $127.56 more per month buys $14,235.15 of interest saved. Run your own balance both ways before the draw period ends, not after.
If the repayment payment doesn't fit your budget, the options are refinancing the HELOC balance into a fixed loan, paying principal down during the draw years, or drawing less in the first place. The jump figure makes that conversation concrete while there's still time to act on it.
Questions
- How much does the payment jump after the draw period?
- On $50,000 at 8.5% with a 15-year repayment term, from $354.17 interest-only to $492.37 amortizing — a $138.20 jump. Shorter repayment terms jump harder.
- How much interest does a HELOC cost over the repayment phase?
- $50,000 at 8.5% costs $38,626.56 over 15 years or $24,391.41 over 10. The variable rate means the real figure drifts with the market; these hold the rate constant.
More ways to use this calculator
Start with the main heloc payment calculator or compare the other published scenarios.
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