房屋净值信贷额度还款计算器
计算房屋净值信贷额度的月还款金额。
Draw Period Payment (interest only)
$425.00
Draw Period Payment (interest only) vs Draw Period
公式
## 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
计算示例
A $100,000 HELOC with $60,000 drawn at 8.5% APR. 10-year draw period, 20-year repayment period.
- 01Monthly rate: 8.5% / 12 = 0.7083%
- 02Draw period payment: $60,000 x 0.007083 = $425.00/month (interest only)
- 03Total draw period interest: $425.00 x 120 months = $51,000
- 04Repayment period: 20 years = 240 months
- 05Repayment payment: $60,000 amortized over 240 months at 8.5% = $520.53/month
- 06Total repayment interest: $520.53 x 240 - $60,000 = $64,927
- 07Total interest cost: $51,000 + $64,927 = $115,927
常见问题
What happens at the end of the draw period?
When the draw period ends, you can no longer borrow against the line. The outstanding balance converts to a fully amortizing loan repaid over the repayment period. Your payment typically increases because you now pay principal and interest.
Can I pay down a HELOC during the draw period?
Yes. Any principal payments during the draw period reduce your balance and future interest charges. You can also re-borrow paid amounts during the draw period, giving you flexibility.
How is a HELOC different from a home equity loan?
A HELOC is a revolving line of credit with variable rates and flexible draws. A home equity loan is a lump-sum with a fixed rate and fixed payments. HELOCs offer more flexibility; home equity loans offer more predictability.