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HELOC Payment Calculator — Draw Period, Repayment, and Payment Shock

Calculate your interest-only draw-period payment, your fully amortizing repayment payment, the monthly jump between them, and how a 2-point rate increase changes both. See the payment shock before you draw.

Quick answer: A HELOC payment can be interest-only during the draw period and much higher during repayment. Model both periods, rate changes, and total interest before borrowing against home equity.

Draw-Period Payment (Interest-Only)
$342During the draw period
Draw-Period Payment (Interest-Only)
$342During the draw period
Available Equity (85% CLTV)
$82,500Maximum line at 85% combined LTV
Annual Interest Cost
$4,100
Repayment-Period Payment
$424Fully amortizing payment after draw ends
Payment Shock at Repayment
$83Extra dollars when draw period ends
Stressed Rate
10
Draw Payment at Stressed Rate
$425+{{stress_bps}}bps scenario
Repayment at Stressed Rate
$489+{{stress_bps}}bps scenario
Combined LTV After HELOC
77.78%
Diagnostic

Your draw-period payment is $342/mo, jumping to $424/mo when repayment begins — a $83 shock. A 2-point rate rise would push repayment to $489/mo.

What to do next

Compare current HELOC rates

Your action plan
  1. 1

    Calculate the baseline result with your current numbers

    Calculate your draw-period interest-only payment, the jump to fully amortizing repayment, and how a 2-point rate rise changes both. See the payment shock before you commit.

  2. 2

    Compare the result against current market-rate options

    Assumptions change the answer, especially when rates, taxes, or timing matter.

  3. 3

    Save the result to Money Map or use the linked next action

    Turn the result into a prioritized action instead of treating it as a one-off number.

Compare current HELOC rates

This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.

Calculator action path

Turn this result into a decision

Every SwitchWize calculator connects to a product comparison, rate context, guidance, alerts, and Money Map.

Rate authority hub
Compare
Compare current HELOC ratesMove from calculation to current product options.
Rate Trend
Track heloc ratesUse market context before you decide when to act.
Guide
HELOC vs Home Equity Loan vs Cash-Out Refi: Which Home Equity Strategy Wins?HELOC: variable rate, flexible draw. Home equity loan: fixed rate, lump sum. Cash-out refi: replaces your mortgage with a larger one. Here's how to choose the right home equity strategy in 2026.
Money Map
Add this scenario to Money MapTurn the result into a saved opportunity or plan item.
Alert
Create a rate alertWatch the market instead of checking manually.
Today's HELOC rates

Reviewed Jul 9, 2026 · Methodology

See all →
Bank of America
Checked Jul 9, 2026
11.80%APR
Get Rate
B
BMO
Checked Jul 9, 2026
11.80%APR
Get Rate

Rates shown are representative APRs for illustrative purposes. Actual rates vary significantly by credit score, loan amount, down payment, points paid, property type, state, and lender underwriting. Verify current rates directly with each lender before applying. Ranked using the SwitchWize methodology. SwitchWize may earn a referral fee if you proceed through a link above. Learn more

Frequently Asked Questions

Everything you need to know.

What is payment shock on a HELOC?
Payment shock is the jump from your interest-only draw-period payment to your fully amortizing repayment payment. On a $50,000 HELOC at 8.5%, the draw payment is about $354/mo. The 20-year repayment payment is about $434/mo. Many borrowers underestimate this transition.
How does a HELOC rate rise affect my payment?
HELOCs are variable-rate products tied to the prime rate or another index. A 2-point rate increase on a $50,000 HELOC pushes the interest-only payment from $354 to $437 per month. This calculator shows the stressed scenario so you can budget for a realistic range.
Can I convert a HELOC to a fixed rate?
Some lenders allow you to lock part or all of the outstanding balance into a fixed-rate sub-account. The terms and availability vary by lender. A home equity loan is the fully fixed alternative if you want certainty from the start.
Is the HELOC Payment Calculator — Draw Period, Repayment, and Payment Shock free to use?
Yes. SwitchWize calculators are free, and you do not need an account to run scenarios or view the result.
Does using the HELOC Payment Calculator — Draw Period, Repayment, and Payment Shock affect my credit score?
No. Using a calculator does not trigger a credit check. A credit impact can occur only if you apply directly with a lender, card issuer, or provider.
Are the results personalized financial advice?
No. Calculator outputs are educational estimates based on the inputs you enter. Review assumptions and confirm terms directly with providers before making a financial decision.
What should I do after seeing the result?
Use the recommendation module on this page to compare current heloc rates, or run Money Map to compare this home & mortgage decision with your other opportunities.
How does SwitchWize choose related offers?
Related offers are matched by the calculator surface (heloc) and ranked using SwitchWize data such as rate, fees, trust signals, product fit, and switching friction. Paid relationships do not change organic ranking order.
How fresh are the rates and offers shown?
Rate and offer data is reviewed on a recurring cadence and every offer module shows review context or links to the methodology and disclosure pages.
Where can I see the ranking methodology?
The SwitchWize methodology page explains how rate freshness, editorial review, affiliate disclosure, and category ranking factors work.
Can Money Map use this result?
Yes. Money Map is the broader diagnostic path: it compares savings, mortgage, cards, and debt so you can see whether this calculator result is your highest-impact next move.

Why This Matters

The payment shock at the end of a HELOC draw period is the most underestimated risk in home equity borrowing. A $50,000 HELOC at 8.5% costs about $354/mo during the draw period. When it switches to a 20-year fully amortizing payment, that jumps to $434/mo. If rates rise 2 points before then, you are looking at $500+/mo. This calculator shows all three scenarios before you commit.

How to Use It

  1. 1Enter your home value and current mortgage balance
  2. 2Enter the HELOC draw amount and current APR
  3. 3Set the draw period and repayment period
  4. 4See the interest-only payment, repayment payment, the shock delta, and the rate-stress scenario
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Home Equity Loan CalculatorHELOC vs. Home Equity Loan CalculatorHELOC vs. Cash-Out Refinance Calculator
Compare current HELOC rates