HELOC Calculator 2026
Calculate your HELOC credit line, draw-period payment (interest-only), and repayment-period payment. See what happens when the draw period ends.
HELOC vs Home Equity Loan
A HELOC (Home Equity Line of Credit) works like a credit card secured by your home. You get a credit limit based on your equity, draw what you need, pay it back, and draw again — all during the draw period (typically 10 years). After the draw period, repayment begins on the balance you owe.
Compare to a home equity loan: that gives you a fixed lump sum at a fixed rate. A HELOC's variable rate means your payment fluctuates with the prime rate — which adds risk but also means you can benefit if rates fall.
HELOC Credit Line Formula
Max credit line = (Home value × 0.85) − Mortgage balance
2026 HELOC Rates
HELOC rates are typically prime rate + 0–2%. As of 2026, expect rates of 8%–11% for most borrowers. Excellent credit (760+) may qualify for prime or below.