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What does a $75,000 HELOC cost each month? During the interest-only draw period the payment is just the interest on your balance; once repayment begins (here over 20 years) you also repay principal, so the payment is higher. The table shows both at a range of rates.
| Interest rate | Interest-only (draw period) | Principal + interest (20-yr repay) |
|---|---|---|
| 7% | $438 | $581 |
| 8% | $500 | $627 |
| 9% | $563 | $675 |
| 10% | $625 | $724 |
HELOC rates are variable, so treat these as snapshots. At 9%, a $75,000 balance runs about $563/month interest-only, rising to roughly $675/month once you're repaying principal.
Try your own numbers
Use the HELOC payment calculator to set your own rate and terms, or compare a fixed lump sum with the home equity loan calculator.
Illustrative only. Variable rates change; your actual payment and terms depend on your lender.