HELOC Payoff Calculator: Time to Clear a Line Balance
See how long a home equity line of credit takes to clear at a fixed monthly payment, and how much interest the balance accrues along the way.
Adjust the inputs and select Calculate for a full breakdown.
Year-by-year payoff schedule
Compare Common Scenarios
How the numbers shift across typical situations for this calculator:
| Scenario | Time to pay off | Total interest | Total paid |
|---|---|---|---|
| $25k · 9.5% · $600/mo | 4y 3m | $5,456.63 | $30,456.63 |
| $15k · 8% · $400/mo | 3y 8m | $2,318.67 | $17,318.67 |
| $60k · 10% · $1k/mo | 7 years | $23,524.79 | $83,524.79 |
| $8k · 7.5% · $300/mo | 2y 6m | $778.94 | $8,778.94 |
How This Calculator Works
Enter the HELOC balance, its interest rate, and the monthly payment you plan to make. The calculator works through the balance month by month and reports the payoff time and the total interest. HELOC rates are usually variable; rerun if your rate moves.
The Formula
Debt Payoff Time
B = balance, P = fixed monthly payment, r = monthly rate (APR ÷ 12), n = months to clear
Worked Example
A $25,000 HELOC balance at 9.5% paid at $600 a month clears in 51 months. Interest over that period adds about $5,457 on top of the amount drawn from the line.
Key Insight
A HELOC's variable rate tracks the prime rate, so payment plans can be derailed by a rate rise. Locking in a fixed payment well above the interest-only minimum builds in a buffer and forces principal down.
Frequently Asked Questions
What is a HELOC?
A home equity line of credit is a revolving credit line secured by your home. You draw on it as needed, pay interest on the balance, and can repay and redraw within the draw period.
Are HELOC rates variable?
Usually yes. Most HELOC rates track the prime rate plus a margin, so the rate moves over time. This calculator models one steady rate as an estimate.
What is interest-only on a HELOC?
During the draw period, the minimum payment is often only the month's interest, with no principal repayment. The balance stays the same until you pay above the minimum.
What happens at the repayment period?
After the draw period, the loan typically enters a fixed repayment phase with a larger payment that includes principal. The payoff time depends on that payment schedule.
Is HELOC interest tax-deductible?
Sometimes — only when the line is used to buy, build, or substantially improve the home that secures it. Rules change, so confirm with a tax professional.
Related Calculators
Data Sources & Benchmarks
This calculator draws on 3 independent, dated sources. The starting values for interest rate are taken from the benchmarks below and refresh whenever the snapshots are updated.
Methodology & Review
The payoff is simulated month by month: interest is charged on the balance, the fixed payment is deducted, and months are counted until the balance clears. HELOC rates are usually variable; this models a single steady rate.
Written by Ugo Candido · Last updated May 17, 2026.