The average U.S. HELOC rate was 7.47% APR for the week of June 17, 2026, per Bankrate's national lender survey, so a $50,000 balance drawn today runs about $311 a month in interest before repayment even starts. Run your own balance and rate below, or open the full calculator to see the repayment-period jump.
At 7.47% APR on a $50,000 balance, expect about $311 a month in interest while you are still drawing on the line.
Open the full calculator →Payments, equity, and the honest gap between what you can borrow and what you should.
Interest-only payment during the draw period, then principal plus interest when repayment begins.
Show my cost →How much equity you hold and roughly how much of it a lender will let you borrow at up to 85% CLTV.
Show my cost →Variable line against a fixed lump-sum loan, payments and total interest side by side.
Show my cost →Dated rate table, CLTV limits and draw/repayment norms, sourced and updated, with a downloadable CSV.
See the data →A HELOC can feel cheap during the draw period when you owe interest only. Then repayment begins, principal joins the bill, and a variable rate can nudge it higher still. Every tool here runs the same standard formulas a lender uses, so you see both numbers up front. No account, no email harvesting, nothing stored.
Take the numbers already loaded into the HELOC Payment Calculator above: a $50,000 balance at 7.47% APR, the current national average per Bankrate's June 17, 2026 survey. During the draw period the calculator does one thing: it multiplies the balance by the annual rate and divides by twelve. $50,000 times 0.0747, divided by 12, comes out to $311.25 a month. That's it. No principal moves. You could carry that balance for years and still owe the full $50,000 the day repayment starts.
Repayment is where the second formula kicks in, the standard loan amortization equation lenders use for any fixed-term debt: balance times monthly rate, divided by one minus (one plus the monthly rate) to the power of negative the number of payments. Feed the same $50,000 and 7.47% into a 20-year repayment term and the answer is $401.88 a month, this time chipping away at principal as well as interest. The jump from $311 to $402 is not a rounding quirk. It's the entire structure of a HELOC in two numbers, and it's why the calculator shows both instead of just one.
Budgeting for the draw-period payment and stopping there. The interest-only number is real, but treating it as the permanent payment is how people get blindsided when repayment starts and the bill jumps by a third or more. Run the repayment figure the same day you run the draw figure, not years later.
Assuming a fixed rate. Most HELOCs float with the prime rate the Federal Reserve publishes, so the 7.47% you calculate with today is a snapshot, not a promise. A rate that climbs two points during your draw period raises both the interest-only payment now and the amortized payment later.
Borrowing to the CLTV ceiling because a lender offers it. The Home Equity Calculator on this site defaults to an 85 percent combined loan-to-value cap because that's common lender practice, but the maximum a lender allows and the maximum you should actually draw are different questions. Every dollar borrowed against the house is a dollar the house can be foreclosed over if payments stop.
Ignoring the fees a payment calculator can't see. Annual fees, inactivity fees, and minimum draw requirements live in the loan agreement, not in any formula. A monthly-payment estimate is the starting math, not the whole cost of the line.
Each result on this site pairs a number with the assumption behind it. The draw-period figure assumes you keep the balance flat and the rate steady, which real HELOCs rarely do for ten straight years. The repayment figure assumes full amortization over whatever term you enter, on that same static balance. Change either input and both outputs move, which is the point: the tool is built to be re-run, not read once.
Treat the gap between the draw payment and the repayment payment as the number that matters most, more than either figure alone. A small gap means the transition will barely register in your budget. A large one, like the roughly $90 jump in the example above, is worth planning around well before the draw period ends, whether that means paying down principal early or lining up a refinance.
Estimate your HELOC payment across the draw and repayment periods, work out how much home equity you have available to borrow, and compare a variable HELOC against a fixed home equity loan. Every tool runs in your browser and stores nothing.
The average U.S. HELOC rate was 7.47% APR for the week of June 17, 2026, according to Bankrate's national lender survey. Rates change weekly and vary by lender, credit score and combined loan-to-value. See the 2026 HELOC Rate and Limit Reference for the full breakdown.
Most home equity lines carry a variable rate tied to the prime rate published by the Federal Reserve, so your payment can change over time. Some lenders offer an option to lock part of the balance at a fixed rate.
No. These are calculators, not applications. Nothing here pulls your credit or contacts a lender. They simply do the math so you can plan before you apply.
No. Everything here is an estimate for planning only, not a loan offer or financial advice. Confirm real terms, fees and rate caps with a qualified lender.
Rates move weekly and CLTV limits vary by lender, so a number that was accurate last quarter can be stale today. Worth a rerun every few months, especially before you sign anything, rather than trusting a figure you calculated back when rates looked different.