Calculate a Home Equity Line of Credit Payment

Loan Information

Loan Amount
Draw Period Payment
Repayment Period Payment

Repayment of a home equity line of credit requires that the borrower makes a monthly payment to the lender. For some home equity lines of credit, borrowers can make interest-only payments for a defined period, after which a repayment period begins. Interest-only payments are based on the outstanding loan balance and interest rate. During the repayment period, the payment includes both repayment of the loan principal, plus monthly interest on the outstanding balance. Loan payments for the repayment period are amortized so that the monthly payment remains the same throughout the repayment period, but during that time, the percentage of the amount that goes towards principal will increase as the outstanding mortgage balance decreases.

You can borrow up to 95% of your home’s value (maximum Home Equity Loan of $250,000), which includes any balance owned on an existing first mortgage loan. The maximum loan-to-value varies based on credit tier, combined LTV and loan amount requested.