HELOC (Home Equity Line of Credit) Payment Calculation
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HELOC Calculator
Instantly calculates your monthly HELOC payments (both Principal and Interest).
Amortization Schedule
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HELOC Payment Calculator
Determine home equity loan payments with our calculator.
Home Equity Line of Credit(HELOC) Formulas
Monthly Interest Only Payment = CHB × RATE
Monthly Principal & Interest Payment = (CHB × RATE) × ( (1 + RATE) (12 × RP) ) / ( (1 + RATE) (12 × RP) - 1 )
Where,
CHB is Current HELOC Balance
RP is Repayment Period (years)
RATE(monthly interest rate) = Decimal Rate / 12 , or RATE = (Annual Interest Rate / 100) / 12