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Home Equity Line of Credit (HELOC) Payment Calculator

Find out what your monthly payments on a Home Equity Line of Credit (HELOC) could look like with our home equity payment calculator.

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Based on the information you entered, here are some estimated minimum monthly payments to compare:

Principal & Interest HELOC

10-year draw period

$1153/month

20-year repayment period

$1153/month

The 10-year draw period and 20-year repayment period estimated payments include principal and interest, and are based on a variable interest rate of 10.5% APR.

Interest-only HELOC

10-year draw period

$875/month

20-year repayment period

$1292/month

The 10-year draw period includes payments that cover interest only. Principal and interest payments begin during the 20-year repayment period. Both estimated payment amounts are based on a variable interest rate of 10.5% APR.

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How it works

We start with the key parts of your loan — the amount you want to borrow and the interest rate. For a principal and interest HELOC, we base our amortization calculation on monthly payments for the 10-year draw period and 20-year repayment period.

For an Interest-only HELOC, the monthly payment during the 10-year draw period is calculated by assuming your initial draw is the entire line of credit and that you make interest-only payments during the draw period. Monthly payments for the 20-year repayment period are calculated using an amortization calculation based on monthly principal and interest payments during the remaining 20 years of the line of credit.

A reminder: Amortization is the process of paying a loan off over time. At first, a larger portion of your monthly payments will go toward paying interest, rather than principal. But as you get closer to the end of your loan term, more of your payment will go toward the principal.
Home Equity Lines of Credit with an interest-only draw period require the borrower(s) to have $200,000 or more in post-close traditional bank products with Citi, or $1,000,000 or more in total investable assets (these do not have to be held in a Citi account). Traditional bank products include deposit accounts (checking, savings, money market, and Certificates of Deposit). Investable assets include deposit accounts (checking, savings, money market, and Certificates of Deposit), unrestricted stock, bonds and retirement accounts, including 401K balances. Non-vested stocks and non-vested restricted stocks are not eligible. When using stocks, bonds and/or retirement accounts for eligibility requirements, the full value of the asset may not be available to use for qualifying purchases. Both traditional bank products and investable assets must be held by the individual who is personally liable on the loan. We’ll also review your credit and debt to ensure you meet our underwriting criteria.
Minimum line amount may vary by state, and maximum line amount assumes excellent credit and that the collateral property is your primary residence. Restrictions and limitations based on the state the collateral property is located in may apply.

A line amount $500,000 or larger is permissible, but is based on lien position and deposit relationship, along with other credit approval factors. For lines $500,000 or larger, please call 1-877-501-9128 TTY: We accept 711 or other relay service.

Monthly payment estimates assume a draw of the full line amount at the beginning of the term with principal plus interest payments during the draw period. Your monthly payment will vary based on the amount you draw and interest rates. You may choose to make additional payments to pay down your principal balance at any time during the draw period.

During the repayment period, your payments will be calculated to be a substantially equal amount each month for the remainder of the term. HELOCs from Citi have a variable interest rate, which fluctuates based on the Prime Rate. If the variable interest rate changes, your payment will be recalculated at the end of the billing cycle to keep the amount equal from that point forward. Therefore, fluctuations in Prime Rate may cause your minimum monthly payment amount to increase or decrease throughout your term.
Minimum line amount may vary by state, and maximum line amount assumes excellent credit and that the collateral property is your primary residence. Restrictions and limitations based on the state the collateral property is located in may apply.

A line amount $500,000 or larger is permissible, but is based on lien position and deposit relationship, along with other credit approval factors. For lines $500,000 or larger, please call 1-877-501-9128 TTY: We accept 711 or other relay service.

Monthly payment estimates assume a draw of the full line amount at the beginning of the term with interest-only payments during the draw period. Your monthly payment will vary based on the amount you draw and whether you choose to make principal payments during the draw period. You may choose to pay down your principal balance at any time during the draw period.

During the repayment period, the minimum monthly payment will decrease over time as principal is paid down. HELOCs from Citi have a variable interest rate, which fluctuates based on the Prime Rate and may also cause your minimum monthly payment amount to increase or decrease throughout your term.

Choose the home equity option that’s right for you.  

Contact Us

Give us a call

1-877-501-9128

TTY: We accept 711 or other relay service

Mon-Fri: 8 AM to 10 PM ET

Sat: 9 AM to 7 PM ET

Have questions?

Important Disclosures

Terms and conditions and fees for accounts, programs, rates, products and services are subject to change without notice.

Home Equity Lines of Credit with an interest-only draw period require the borrower(s) to have $200,000 or more in post-close traditional bank products with Citi, or $1,000,000 or more in total investable assets (these do not have to be held in a Citi account). Traditional bank products include deposit accounts (checking, savings, money market, and Certificates of Deposit). Investable assets include deposit accounts (checking, savings, money market, and Certificates of Deposit), unrestricted stock, bonds and retirement accounts, including 401K balances. Non-vested stocks and non-vested restricted stocks are not eligible. When using stocks, bonds and/or retirement accounts for eligibility requirements, the full value of the asset may not be available to use for qualifying purchases. Both traditional bank products and investable assets must be held by the individual who is personally liable on the loan. We’ll also review your credit and debt to ensure you meet our underwriting criteria.

For Home Equity Lines of Credit with an interest-only draw period: Your monthly minimum payments during the draw period can be as low as “interest-only”. If you choose to pay only the amount of interest due, then at the end of the interest-only period you will still owe the original amount you borrowed and your monthly payments will increase because you must pay back the principal as well as interest. Your payment could increase even more if your variable rate increases. Please speak to a mortgage representative for more details.

This offer contains information about U.S. domestic financial services provided by Citibank, N.A. and is intended for use domestically in the U.S.

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