Complete Payment Schedule & Analysis
See your entire HELOC payment journey from draw period through final payoff.
HELOC Calculator Payment - Full Schedule Analyzer
Get a complete picture of your HELOC payments over the entire life of your loan. Our comprehensive payment calculator shows you detailed payment breakdowns for both the draw and repayment periods, total costs, payment changes, and helps you plan for every stage of your HELOC.
Complete Payment Calculator
Your Payment Timeline
Years 1-10
Draw Period
Years 11-25
Repayment Period
Phase 1: Draw Period
Interest-OnlyPhase 2: Repayment Period
Principal + InterestPayment Change Alert
When your draw period ends, your payment will increase by:
$137.61 (39% increase)
💡 Plan ahead for this change or make principal payments during the draw period to reduce the shock.
Lifetime Summary
Total Duration
25 Years
Total Paid
$131,020
Total Interest
$81,020
Understanding Your Complete Payment Schedule
A HELOC payment schedule is unlike any other loan because it has two distinct phases with very different payment structures:
Why the Draw Period Has Lower Payments
During the draw period, you're only required to pay the monthly interest on your outstanding balance. This means:
- Your principal balance stays the same (unless you make extra payments)
- You maintain maximum flexibility - you can pay just interest or add principal payments
- Payments are lower, making this period easier on your budget
- You can continue to borrow up to your credit limit
Why the Repayment Period Has Higher Payments
When the draw period ends, you enter the repayment period where:
- You can no longer borrow additional funds
- You must pay both principal AND interest
- Your payment increases significantly (often 30-50%)
- Your balance decreases each month as you pay down the principal
- The loan is fully paid off at the end of the term
Frequently Asked Questions
How long does a typical HELOC payment schedule last?
Most HELOCs have a total term of 20-30 years, typically split into a 10-year draw period followed by a 10-20 year repayment period. However, terms can vary by lender. Some lenders offer 5-year draw periods or 25-year repayment periods.
Can I pay off my HELOC early?
Yes! Most HELOCs allow early payoff without penalty. Paying extra toward principal during the draw period or paying off the loan during the repayment period can save thousands in interest. Always check your specific loan agreement for any prepayment penalties, though these are rare with HELOCs.
What happens if I can't afford the repayment period payment?
If you're concerned about affording the higher repayment payment, you have several options: (1) Start making principal payments during the draw period to reduce your balance, (2) Refinance your HELOC into a fixed-rate loan before the repayment period begins, (3) Ask your lender about extending the repayment term to lower monthly payments, or (4) Consider consolidating with other debt into a single loan with better terms.
How is the total interest calculated in a HELOC payment schedule?
Total interest is calculated in two parts: (1) During the draw period, it's your monthly interest-only payment multiplied by the number of months in the draw period. (2) During the repayment period, it's the total of all payments minus the original principal balance. Our calculator adds these together to show your lifetime interest cost, assuming the rate stays constant.
Will my actual payment schedule match this calculator?
This calculator provides accurate estimates based on standard financial formulas. However, your actual payment schedule may differ slightly due to: variable rate changes, different day-count methods used by lenders, fees included in payments, or lender-specific policies. Use this as a planning tool and consult your lender for exact payment schedules.