HELOC calculator

Como usar a HELOC calculator

O que calcula e quando usar

Estimate the credit line a HELOC could give you, the interest-only payment while you draw, e the repayment once the draw Período termina.

Como usar, passo a passo

1. Enter the Início Valor, mortgage Saldo e combined loan-to-value limit.
2. Enter the Juros Taxa e the draw e repayment periods.
3. Enter how much you plan a draw, ou leave it blank a use the whole line.

O que significa cada campo

• Draw Período – The Anos during which you lata borrow e Pagamento Juros only.
• Repayment Período – The Anos excedido which the Saldo é repaid afterwards.
• Taxa de juros – HELOC rates are variable. This estimate holds the Taxa fixed.

Como ler os resultados

• Interest-only payment – Saldo × Mensal Taxa during the draw Período.
• Payment depois the draw Período – A repayment calculated excedido the repayment Prazo.
• Juros totais – Juros across both periods.

A fórmula

Line = value × limit − mortgage. Draw payment = balance × rate ÷ 12. Repayment = balance × r ÷ (1 − (1 + r)^−n) over the repayment meses.

Um exemplo prático

On a 400,000 Início with a 240,000 mortgage e an 85% limit, the line é 100,000. At 8.5% the interest-only payment é 708.33 a month, then repayment over 20 years é 867.82 a month. Interest over the whole term is about 193,278.

Premissas e limites

• The full line é drawn on day one e the Taxa never changes.
• Annual fees e Mínimo draws are excluded.

Erros comuns

• Underestimating how much the payment rises depois the draw Período.
• Treating a variable Taxa as fixed.

Perguntas frequentes

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