A home equity line of credit with variable rates and a draw period followed by repayment.

Why do payments change?

During the draw period many HELOCs are interest-only; later payments amortize the balance.

A home equity line of credit with variable rates and a draw period followed by repayment.

During the draw period many HELOCs are interest-only; later payments amortize the balance.

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HELOC Payment & Interest Simulator

Variable-rate lines; this is illustrative.

Draw Amount (USD)

APR (%)

Interest-Only Months

Repayment Months