HELOC calculator

如何使用HELOC calculator

它计算什么，何时使用

Estimate the credit line a HELOC could give you、the interest-only payment while you draw,、the repayment once the draw 周期 ends.

使用步骤

1. Enter the 首页 数值、mortgage 余额、combined loan-to-value limit.
2. Enter the 利息 利率 和 the draw 和 repayment periods.
3. Enter how much you plan 至 draw, 或 leave it blank 至 use the whole line.

各输入项的含义

• Draw 周期 – The 年数 during which you 罐 borrow 和 薪酬 利息 only.
• Repayment 周期 – The 年数 over which the 余额 是 repaid afterwards.
• 利率 – HELOC rates are variable. This estimate holds the 利率 fixed.

如何阅读结果

• Interest-only payment – 余额 × 每月 利率 during the draw 周期.
• Payment after the draw 周期 – A repayment calculated over the repayment 期限.
• 总利息 – 利息 across both periods.

公式

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

计算示例

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

假设与局限

• The full line 是 drawn on day one 和 the 利率 never changes.
• Annual fees 和 最小值 draws are excluded.

常见错误

• Underestimating how much the payment rises after the draw 周期.
• Treating a variable 利率 as fixed.

常见问题

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