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HELOC Payoff Calculator
See your year-by-year HELOC repayment schedule — how each payment splits between principal and interest, and the total interest to pay it off.
Short answer
A HELOC is paid off over its repayment period as the balance amortizes. Early payments are mostly interest; later ones are mostly principal. Paying extra principal at any time cuts the interest and shortens the payoff — the schedule below shows the split.
Interest-only payment
$354.17
during draw period
Principal & interest
$433.91
during repayment
Total interest
$96,639.63
both phases
Repayment schedule
| Year | Interest | Principal | Balance |
|---|---|---|---|
| Year 1 | $4,211.82 | $995.10 | $49,004.90 |
| Year 2 | $4,123.86 | $1,083.06 | $47,921.84 |
| Year 3 | $4,028.13 | $1,178.79 | $46,743.05 |
| Year 4 | $3,923.94 | $1,282.98 | $45,460.07 |
| Year 5 | $3,810.54 | $1,396.38 | $44,063.69 |
| Year 6 | $3,687.11 | $1,519.81 | $42,543.88 |
| Year 7 | $3,552.78 | $1,654.14 | $40,889.74 |
| Year 8 | $3,406.54 | $1,800.38 | $39,089.36 |
| Year 9 | $3,247.42 | $1,959.50 | $37,129.86 |
| Year 10 | $3,074.20 | $2,132.72 | $34,997.14 |
| Year 11 | $2,885.71 | $2,321.21 | $32,675.93 |
| Year 12 | $2,680.54 | $2,526.38 | $30,149.55 |
| Year 13 | $2,457.23 | $2,749.69 | $27,399.86 |
| Year 14 | $2,214.17 | $2,992.75 | $24,407.11 |
| Year 15 | $1,949.63 | $3,257.29 | $21,149.82 |
| Year 16 | $1,661.73 | $3,545.19 | $17,604.63 |
| Year 17 | $1,348.37 | $3,858.55 | $13,746.08 |
| Year 18 | $1,007.32 | $4,199.60 | $9,546.48 |
| Year 19 | $636.10 | $4,570.82 | $4,975.66 |
| Year 20 | $232.09 | $4,975.66 | $0.00 |
HELOC payment by loan amount
Frequently asked questions
How do I pay off a HELOC faster?+
Pay more than the interest-only minimum during the draw period so principal actually falls, and add extra to the principal-and-interest payment in repayment. Because interest is charged on the outstanding balance, every extra dollar of principal cuts future interest. The schedule above shows how each payment splits between principal and interest.
How long does it take to pay off a HELOC?+
A HELOC is fully paid off at the end of its repayment period — often 10 to 20 years after the draw period ends — if you make only the scheduled payments. Paying extra principal shortens that. Enter your balance, rate, and repayment term above to see the payoff timeline and total interest.
Is there a penalty for paying off a HELOC early?+
Most HELOCs have no prepayment penalty on the balance, but some lenders charge an early-closure or account-termination fee if you close the line within the first few years. Paying it down without closing the account usually avoids that. Check your agreement for early-closure terms.
Estimates for planning only, not financial advice. Assumes a constant rate held to maturity; real HELOC rates are usually variable. Figures are pre-tax.