Calcolatore Pagamento HELOC — Formula

How a HELOC Works

A HELOC has two phases: a draw period where you access funds and make interest-only payments, and a repayment period where you pay principal and interest.

Draw Period

Monthly Payment = Balance x (Annual Rate / 12)

During this phase, you only pay interest on what you have borrowed.

Repayment Period

Monthly Payment = P x r x (1+r)^n / ((1+r)^n - 1)

Once the draw period ends, the balance is amortized over the repayment period with fully amortizing payments.

Key Considerations

  • HELOC rates are usually variable, tied to the prime rate
  • Your payment can increase significantly when shifting from draw to repayment
  • You can reduce the balance during the draw period to lower future payments

    • Esempio Risolto

    A $100,000 HELOC with $60,000 drawn at 8.5% APR. 10-year draw period, 20-year repayment period.

    1. Monthly rate: 8.5% / 12 = 0.7083%
    2. Draw period payment: $60,000 x 0.007083 = $425.00/month (interest only)
    3. Total draw period interest: $425.00 x 120 months = $51,000
    4. Repayment period: 20 years = 240 months
    5. Repayment payment: $60,000 amortized over 240 months at 8.5% = $520.53/month
    6. Total repayment interest: $520.53 x 240 - $60,000 = $64,927
    7. Total interest cost: $51,000 + $64,927 = $115,927