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$50,000 HELOC payment by rate
| Rate | Interest-only | 10-yr repayment | 15-yr repayment | 20-yr repayment |
|---|---|---|---|---|
| 6% | $250 | $555 | $422 | $358 |
| 7% | $292 | $581 | $449 | $388 |
| 8% | $333 | $607 | $478 | $418 |
| 9% | $375 | $633 | $507 | $450 |
| 10% | $417 | $661 | $537 | $483 |
| 11% | $458 | $689 | $568 | $516 |
Worked example
Interest-only: $50,000 × 8% ÷ 12 = $333.33. Repayment over 20 years: $418.22. The difference, $84.89, is the payment jump when the draw period ends.
HELOC rates are usually variable; a 2-point rise on $50,000 adds about $83 a month to the interest-only payment.
Example rates are for comparison only, not offers or current quotes. Your rate depends on credit, loan-to-value and lender.
Related
Frequently asked questions
What is the monthly payment on a $50,000 HELOC?
About $333 interest-only at 8%, or $418 once a 20-year repayment period starts.
Can I pay principal during the draw period?
Yes. Most HELOCs let you pay more than interest, which lowers the later payment.