Dort Financial Credit Union logo

Home Equity Line of Credit (HELOC) Calculator

A HELOC allows you to borrow against the equity in your home, often at a lower interest rate than credit cards or personal loans. Unlike a standard loan, a HELOC has two phases:

  • Draw Period - You can borrow, repay, and borrow again. You only pay interest on the amount you actually borrow, making these loans extremely flexible.
  • Repayment Period - Borrowing ends. If you still have a balance, you pay off the remaining amount with regular principal and interest payments.

If you don't have a balance at the end of your draw period, you can simply apply for a new HELOC and start the process again.

The maximum available is calculated at 80% of your home equity.
%
years
years
When Principal and Interest is selected, the entire loan is repaid during the draw period.

Total Home Equity

Maximum Credit Line

Loan Amount

The total cost for this loan is . Interest charges are .

Including your mortgage and HELOC, your home's loan-to-value ratio is .

Minimum Monthly Payment Estimates

Remember, you can pay more than the minimum to reduce your interest cost and repayment timeline.

Draw Period

Repayment Period*

* When your payment type is set to Principal and Interest, your loan is repaid during the draw period.

Rate Sensitivity Analysis

Most HELOCs are variable-rate loans. Here's how your monthly payments change with interest rate fluctuations.

Rate Draw Period Repayment Period Total Interest

Tools