HELOC Payoff Time Calculator
Calculate how long it will take to pay off your HELOC and see how extra payments can save you time and money.
Current HELOC Details
Enter your current balance and interest rate
Payment Strategy
Set your payment amounts and frequency
Payoff Results
0 months
Time to Pay Off
$0
Total Interest
Total Payments:$0
Monthly Payment:$825
Balance Reduction Over Time
Payment Strategy Comparison
| Strategy | Monthly Payment | Payoff Time | Total Interest | Total Cost |
|---|
Payoff Time Comparison
Total Interest Comparison
Payoff Strategies
Acceleration Tips
- • Make extra principal payments when possible
- • Apply windfalls (bonuses, tax refunds) to principal
- • Consider bi-weekly payments instead of monthly
- • Round up payments to the nearest $50 or $100
Important Considerations
- • Ensure you have adequate emergency savings first
- • Consider other high-interest debt priorities
- • Factor in potential tax deductions for HELOC interest
- • Review terms for prepayment penalties