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A home equity line of credit is a revolving line secured by your home. It lets you draw what you need up to your approved limit, repay what you use, and access available credit again during the draw period.
A flexible borrowing cycle
How a HELOC works
1
Draw
Access funds as needed, up to your available credit limit.
2
Repay
Make payments on the amount you use, subject to your lender’s terms.
3
Reuse
Borrow again as credit becomes available during the draw period.
The financial picture
What lenders typically review
Your available equity in the home
Your credit history and payment record
Your income, debts, and ability to repay
Your property and occupancy details
Explore an estimate
HELOC payment calculator
Adjust the example figures to see how the amount, estimated rate, and repayment term could affect monthly payments.
$0Estimated monthly principal and interest
$0Estimated monthly interest-only payment
0%Combined loan-to-value estimate
$0Estimated interest over the repayment term
For educational purposes only. This calculator assumes a fixed rate and fully amortizing repayment schedule. Actual HELOCs may have variable rates, separate draw and repayment periods, fees, minimum payments, and lender-specific eligibility requirements. This is not a credit decision or loan offer.
Where we serve
Serving homeowners in 32 states and Washington, D.C.
Availability is limited to properties in the locations below and remains subject to program and lender requirements.