Home Equity Loan Calculator
Estimate monthly payments, closing costs, and APR on a home equity loan.
Calculate fixed home equity loan payments and fee-adjusted APR.
Result
- Principal
- Interest
Calculation details
Scroll horizontally or vertically to see more. Download CSV for the complete schedule.
| Period | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | 1,110.21 | 500 | 610.21 | 99,389.79 |
| 2 | 1,110.21 | 496.95 | 613.26 | 98,776.54 |
| 3 | 1,110.21 | 493.88 | 616.32 | 98,160.22 |
| 4 | 1,110.21 | 490.80 | 619.40 | 97,540.81 |
| 5 | 1,110.21 | 487.70 | 622.50 | 96,918.31 |
| 6 | 1,110.21 | 484.59 | 625.61 | 96,292.70 |
| 7 | 1,110.21 | 481.46 | 628.74 | 95,663.96 |
| 8 | 1,110.21 | 478.32 | 631.89 | 95,032.07 |
| 9 | 1,110.21 | 475.16 | 635.04 | 94,397.03 |
| 10 | 1,110.21 | 471.99 | 638.22 | 93,758.81 |
| 11 | 1,110.21 | 468.79 | 641.41 | 93,117.40 |
| 12 | 1,110.21 | 465.59 | 644.62 | 92,472.78 |
| 13 | 1,110.21 | 462.36 | 647.84 | 91,824.94 |
| 14 | 1,110.21 | 459.12 | 651.08 | 91,173.86 |
| 15 | 1,110.21 | 455.87 | 654.34 | 90,519.52 |
| 16 | 1,110.21 | 452.60 | 657.61 | 89,861.91 |
| 17 | 1,110.21 | 449.31 | 660.90 | 89,201.02 |
| 18 | 1,110.21 | 446.01 | 664.20 | 88,536.82 |
| 19 | 1,110.21 | 442.68 | 667.52 | 87,869.30 |
| 20 | 1,110.21 | 439.35 | 670.86 | 87,198.44 |
| 21 | 1,110.21 | 435.99 | 674.21 | 86,524.23 |
| 22 | 1,110.21 | 432.62 | 677.58 | 85,846.64 |
| 23 | 1,110.21 | 429.23 | 680.97 | 85,165.67 |
| 24 | 1,110.21 | 425.83 | 684.38 | 84,481.29 |
| 25 | 1,110.21 | 422.41 | 687.80 | 83,793.49 |
| 26 | 1,110.21 | 418.97 | 691.24 | 83,102.26 |
| 27 | 1,110.21 | 415.51 | 694.69 | 82,407.56 |
| 28 | 1,110.21 | 412.04 | 698.17 | 81,709.40 |
| 29 | 1,110.21 | 408.55 | 701.66 | 81,007.74 |
| 30 | 1,110.21 | 405.04 | 705.17 | 80,302.57 |
| 31 | 1,110.21 | 401.51 | 708.69 | 79,593.88 |
| 32 | 1,110.21 | 397.97 | 712.24 | 78,881.64 |
| 33 | 1,110.21 | 394.41 | 715.80 | 78,165.85 |
| 34 | 1,110.21 | 390.83 | 719.38 | 77,446.47 |
| 35 | 1,110.21 | 387.23 | 722.97 | 76,723.50 |
| 36 | 1,110.21 | 383.62 | 726.59 | 75,996.91 |
How to use this calculator
Calculate fixed home equity loan payments and fee-adjusted APR. Enter amounts in the units shown, select the applicable options, and click Calculate. Use Reset to restore the starting values.
Calculation formula
Amortize the financed balance; solve APR from net proceeds and loan payments.
Assumptions and accuracy
Review timing, rates, fees and result notes when comparing scenarios. Future returns and rates are assumptions rather than guaranteed outcomes. Monetary display follows the currency’s precision; intermediate calculations retain additional digits.
Choose what to calculate
Home equity loan calculator
Estimate payments and total interest on a fixed-rate home equity loan. This is an installment loan rather than a revolving credit line.
Related searches: Home equity loan monthly payment calculator
Open this calculationUnderstanding this calculation
Estimate installments on a fixed home equity loan and review how closing-cost treatment changes financing and net proceeds. This is a lump-sum repayment model rather than a revolving credit line.
Worked examples
Repay a home equity loan over one year
Illustrative inputs are specified in the steps below; the example link loads the complete settings. Unmentioned settings use the linked defaults.
- A 12,000 zero-rate balance with no closing costs divided by 12 months gives 1,000 per month.
Payment per period: 1,000 USD.
Try these inputsMonthly repayment with a 12% nominal annual rate
Principal 12,000 USD; 12 monthly payments; 12% nominal annual rate with monthly compounding. Fees and taxes are zero in this scenario.
- Monthly rate = 12% / 12 = 1%.
- Payment = 12000 × 0.01 / (1 − 1.01^(−12)).
- Check both the installment and the schedule; the final installment may be limited to the remaining balance.
Payment per period: 1066.19 USD.
Try these inputsCommon questions
How is a home equity loan different from a HELOC?
A home equity loan is modeled as one amortizing balance. A HELOC can have a draw phase and a separate repayment phase.
Does paying closing costs upfront lower the installment?
It can, compared with financing those costs, because less principal must be repaid. Upfront costs still count toward borrowing cost.
Scope and assumptions
The entered rate is fixed for the illustration. Property eligibility, lien priority and lender-specific charges are outside the calculation.
Sources
- Calculation methodology, rule versions and testing limitations
- Reference calculator for feature comparison (not a model-parity certification)
Calculation notes checked . Examples are mathematical checks under the stated assumptions.
Calculation methods and formulas
Home Equity Loan
Calculate fixed home equity loan payments and fee-adjusted APR.
Amortize the financed balance; solve APR from net proceeds and loan payments.
See our calculation methodology and review status for data versions, rounding and validation limitations.