Line of Credit Calculator

↻ Updated 2026

See how long it takes to clear a line of credit or HELOC balance and the interest it costs — or how much an interest-only payment leaves owing. Rates are variable, so try a few.

Educational calculators — always consult a licensed professional before making financial decisions.

Your inputs

Current balance

Interest rate

HELOC and LOC rates are variable — usually prime + a spread

Monthly payment

Must exceed the monthly interest to reduce the balance

Time to pay off

5 yr 2 mo

$500/mo

Total interest

$5,971

24% of balance

Total you'll pay

$30,971

on a $25,000 balance

Balance over time5 yr 2 mo

todaypaid off

Principal vs interest

Balance repaid$25,000

Interest paid$5,971

Summary

Current balance$25,000

Interest rate8.50%

Monthly payment$500

First month's interest$177

Months to pay off62

Total interest$5,971

ASSUMPTIONS — A line of credit (LOC) or home-equity line of credit (HELOC) is variable-rate— the rate tracks the lender's prime rate and can rise or fall, changing your interest and payoff time. This tool assumes the rate you enter stays constant and no new draws are made. Interest accrues monthly on the outstanding balance. Interest-only payments cover the interest but never reduce the principal.

Runs entirely in your browser — nothing you enter is sent to us.How this works

Embed this calculator

Related calculators

Personal Loan Debt Consolidation Debt Payoff

Sources & rate references

·Standard amortization / compound-interest formulas

Rates, brackets and limits here are checked against primary sources. If a number still looks off, email support@realmoneyiq.com and we'll review and fix it.

RealMoneyIQ provides free educational calculators, not financial, tax, investment or legal advice. Results are estimates based on the assumptions you enter and publicly published rates; your actual outcome will differ. Always confirm decisions with a licensed professional who knows your full situation.