Plan for Your Repayment Period
Calculate what your payments will be when your draw period ends and repayment begins.
HELOC Repayment Calculator - Repayment Period Planner
Your HELOC's draw period won't last forever. When it ends, you'll enter the repayment period where you must pay both principal and interest. This specialized calculator helps you plan ahead by showing exactly what your repayment period payments will be, how much you'll pay in total, and when your HELOC will be fully paid off.
Repayment Period Calculator
Your Repayment Period Payment
$491.78
per month for 15 years
Total Monthly Payments
180 months
Final Payment Date
Dec 2039
Total Repayment Cost Breakdown
Comparison: Draw Period vs Repayment Period
Draw Period Payment (Interest-Only)
$354.17/mo
Lower payment, balance unchanged
Repayment Payment (P&I)
$491.78/mo
Higher payment, balance decreasing
Payment Increase: $137.61 (39%)
💡 This is why planning ahead for the repayment period is critical!
Balance Payoff Timeline
5 Strategies to Reduce Your Repayment Burden
Don't wait until the repayment period begins. Start preparing now:
1. Make Principal Payments During Draw Period
Even paying an extra $200-300/month during the draw period can significantly reduce your repayment period payment and save thousands in interest.
2. Refinance Before Repayment Starts
Convert your HELOC to a fixed-rate home equity loan 6-12 months before the repayment period begins to lock in a lower rate and predictable payments.
3. Request a Repayment Period Extension
Some lenders allow you to extend the repayment period from 15 to 20 or even 25 years, which lowers monthly payments (though increases total interest).
4. Set Up Automatic Principal Payments
Automate extra payments of $50-100/month toward principal. You won't miss the money, and it makes a huge difference over time.
5. Budget for the Increase Now
Start living on a budget that includes the higher repayment payment. Put the difference in savings or towards principal to ease the transition.
Frequently Asked Questions
When does my HELOC repayment period start?
Most HELOCs have a 10-year draw period, after which the repayment period automatically begins. Check your loan documents for your specific terms. Your lender should notify you 3-6 months before the draw period ends.
Can I still make extra payments during the repayment period?
Yes! Most HELOCs allow extra payments without penalty during the repayment period. Extra payments go directly toward principal, reducing your balance faster and saving on interest. Some lenders even allow you to re-borrow paid-down amounts during a limited window.
What happens if I can't afford the repayment period payment?
Contact your lender immediately if you're struggling. Options include: refinancing to a longer term, consolidating with other debt, applying for a loan modification, or in some cases, negotiating a hardship plan. Don't wait until you miss payments.
Will my interest rate change during the repayment period?
If you have a variable-rate HELOC, yes - your rate (and thus payment) can still change during the repayment period based on market conditions. If you want payment certainty, consider refinancing to a fixed-rate loan before the repayment period begins.
How accurate is this repayment calculator?
This calculator uses standard amortization formulas and provides accurate estimates for your repayment period payment. The actual amount may vary slightly due to: rate fluctuations (if variable), lender-specific calculation methods, or fees. Use this for planning purposes and confirm exact amounts with your lender.
Plan Your Repayment Period
Don't let payment shock catch you off guard. Calculate now!
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