HELOC Calculator

1. Line Amount: Total credit limit/usage.
2. Interest Rate: Variable rate assumption.
3. Draw Period: Years of interest-only payments.
4. Repayment Period: Years to pay back principal.
5. Calculate: Payments for both phases.

The HELOC Calculator (Home Equity Line of Credit) estimates payments for an "interest-only" draw period followed by a repayment period.

Understand the payment shock that can happen when the repayment phase begins.