Help me find a HELOC Calculator

Help me find a HELOC Calculator

Joseph BernalPro Member
Member since 2019 · 10 posts · 2 votes

Hi all - Can someone point me in the direction to a good HELOC calculator? Does BP have anything here? I have been unable to find anything reliable online. I pulled a HELOC recently and am having a hard time calculating the HELOC payment which makes it difficult to analyze a deal. In the past (prior to HELOC) I would just use the BP rental calculator and plug in all the numbers, but that is based on either a cash deal or financing. I have a contact on the Credit Union who I have asked what our HELOC payment amount would be based on X dollar amount but I don't want to ask every time as it would be easier and faster to run the numbers myself. Thank you for any input!

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  • Investor · Omaha, NE · Member since 2021 · 244 posts · 163 votes
    3y

    @Joseph Bernal HELOCs are primarily I/O (interest only) and unless you're looking to run extensive scenarios, it's a fairly simple math calculation:

    E.g Amount drawn on HELOC = $10,000

    Interest on HELOC = 8%

    Annual interest paid = $800

    Monthly HELOC payment = $800/12 = $66.67/mo

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