This HELOC payoff calculator shows you exactly what your monthly payment would be to eliminate your home equity line of credit balance in 1 to 20 years. Enter your current balance, APR, any extra monthly charges, and annual fee, then choose your target timeframe — and you'll instantly see a side-by-side comparison of monthly payments for every year in that range.
Whether you're heading into the repayment phase and need to budget for new payments, or you're still in the draw period and planning ahead, this tool gives you a clear visual picture of your options so you can choose a payoff speed that works for your finances.
What Happens When Your HELOC Enters Repayment
A home equity line of credit works in two phases: the draw period and the repayment period. During the draw period (typically 5–10 years), you can borrow from your credit line and usually make interest-only payments — keeping your monthly costs low. Once the draw period ends, the repayment period begins, and things change significantly.
During repayment, you can no longer borrow from the line, and your payments shift to cover both principal and interest. That shift can be jarring if you're not prepared. For example, if you had a $30,000 balance with interest-only payments of around $175/month at 7% APR, your fully amortizing payment over 10 years jumps to roughly $348/month — doubling overnight.
This calculator helps you see exactly what repayment looks like for your balance, and what happens to that monthly number if you choose to pay it off faster or stretch it over a longer period.
How to Use This Calculator
- Enter your current balance — The amount you currently owe on your HELOC. Use your most recent statement balance.
- Enter your APR — Your Annual Percentage Rate is on your HELOC statement. Most HELOCs in 2025 carry rates between 7% and 10%. If your rate is variable, use today's rate and consider running a second scenario with a slightly higher rate to plan conservatively.
- Choose your payoff goal — Select 0–5 years, 5–10 years, 10–15 years, or 15–20 years. The calculator shows the monthly payment for each individual year within that range.
- Add additional monthly charges — If your lender charges a monthly maintenance fee or other recurring charges, enter the total here. Leave it at $0 if none apply.
- Enter your annual fee — Many HELOCs carry an annual fee of $25–$100. The calculator divides this by 12 and includes it in each monthly payment for an accurate true cost.
- Read the Payoff Scenarios chart — The bar chart updates instantly, showing your required monthly payment for each year in your selected range.
Understanding Each Input
Current Balance: This is your outstanding principal — what you'd need to pay today to fully close the HELOC. If you're still in the draw period, this number fluctuates as you borrow and repay. For planning purposes, use today's balance.
APR: HELOCs are almost always variable-rate products tied to the prime rate, so your APR affects every calculation significantly. A 1% difference in APR on a $50,000 balance over 10 years translates to roughly $2,700 in additional total interest. When planning, it's smart to run the numbers at your current rate and at a rate 1–2% higher to understand your exposure if rates rise.
Additional Monthly Charges: Some lenders charge a flat monthly fee for maintaining your HELOC, or you may have enrolled in optional services with a monthly cost. Check your statement or HELOC agreement for any recurring line items beyond principal and interest.
Annual Fee: The calculator spreads your annual fee evenly across 12 months and adds it to your payment. On a $50,000 balance with a $50 annual fee, this adds about $4.17/month — small on its own, but it means your actual monthly cost is higher than a pure amortization calculator shows.
Reading Your Payoff Scenarios
The bar chart shows monthly payment amounts on the vertical axis and individual year targets along the bottom. A few things to notice:
- Taller bars = shorter timelines = higher monthly payments — but much less total interest
- Shorter bars = longer timelines = lower monthly payments — but more interest over time
- The drop-off in payment from year to year gets smaller as you extend further out — going from a 2-year to a 3-year payoff saves a lot each month, but going from a 12-year to a 13-year payoff saves very little
For example, with a $30,000 balance at 7.5% APR:
Payoff Timeline | Monthly Payment |
|---|---|
2 years | ~$1,353 |
5 years | ~$601 |
10 years | ~$356 |
The chart makes that trade-off instantly visible, so you can find the point where the monthly payment becomes manageable without stretching the payoff so long that interest dominates.
How the Calculation Works
This calculator uses the standard loan amortization formula to determine the monthly payment needed to fully pay off your balance:
Monthly Payment = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
Where:
- P = Your current HELOC balance (principal)
- r = Monthly interest rate (APR ÷ 100 ÷ 12)
- n = Total months in the payoff period (years × 12)
Additional monthly charges are added directly to this figure. The annual fee is divided by 12 and added as well. The result is your true all-in monthly payment, not just the amortized principal and interest.
Real-World Payoff Examples
Here's what the calculator shows for a few common HELOC balances:
$20,000 at 7% APR (no additional fees)
Payoff Timeline | Monthly Payment | Total Paid | Total Interest |
|---|---|---|---|
2 years | $895 | $21,480 | $1,480 |
5 years | $396 | $23,760 | $3,760 |
10 years | $232 | $27,840 | $7,840 |
$50,000 at 8.5% APR (no additional fees)
Payoff Timeline | Monthly Payment | Total Paid | Total Interest |
|---|---|---|---|
5 years | $1,028 | $61,680 | $11,680 |
10 years | $619 | $74,280 | $24,280 |
15 years | $492 | $88,560 | $38,560 |
The difference between a 5-year and 15-year payoff on a $50,000 balance at 8.5% is roughly $26,880 in interest. Paying it off in 5 years saves you more than half the total interest cost — and that's before accounting for the risk that your variable rate could rise over those extra 10 years.
Should You Pay Off Your HELOC Faster?
Generally, yes — but it depends on your full financial picture.
Paying down your HELOC quickly saves significant interest and reduces your exposure to rate increases. Because HELOCs are variable-rate products, a rising prime rate will increase your payment regardless of your payoff timeline. The faster you're out of the balance, the less that risk matters.
That said, not everyone should prioritize HELOC payoff above everything else. If you're carrying high-interest credit card debt (often 20%+), tackling that first makes mathematical sense. And if your HELOC rate is relatively low compared to potential investment returns, there's a reasonable argument for a measured payoff pace rather than an aggressive one.
A practical approach: look at the Payoff Scenarios chart and find the highest monthly payment that doesn't create cash flow stress or require you to deplete your emergency fund. That's your target — aggressive but sustainable.
Annual Fees and Extra Monthly Charges: Why Include Them
It might seem minor, but these costs have a real impact on what you're actually paying each month. A HELOC with a $75 annual fee and $25 in monthly charges adds $100/month to your costs — which, over 5 years, means you'll pay $6,000 more than a pure principal-and-interest calculation would show.
Including these figures gives you an accurate monthly budget number, not just an amortization estimate. When comparing payoff timelines, knowing your true monthly cost is what determines which scenario is actually affordable for you.