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Home equity line calculator

Draw, rate and repayment.

Built and reviewed by Dovanic, Founder and editor, FreeByteLast reviewed: 2026-08-18
$
8.5%

Interest-only payment

$318.75

Payment after draw period

$443.13

With these inputs, interest-only payment comes to $318.75 over 5 years. Payment after draw period works out to $443.13. The result assumes rate stays at 8.5%.

Interest during draw
$19,125
Total cost
$98,889

Over time · by interest-only years

What moves the number · Interest-only payment

Input−10%Now+10%
Amount drawn$286.88$318.75$350.63
Rate$286.88$318.75$350.63

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Whatmakesequal

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Draw, rate and repayment.

A worked example

Starting figures

Amount drawn
$45,000
Rate
8.5%
Interest-only years
5
Repayment years
15

What it returns

Interest-only payment
$318.75
Payment after draw period
$443.13
Interest during draw
$19,125
Total cost
$98,889

How to read the results

With the defaults above, interest-only payment works out at $318.75.

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