HELOC Payment Calculator
Estimate monthly payments, compare draw and repayment scenarios, and see how a home equity line of credit* could help you put your home’s equity to work.
What It Shows
- Estimated monthly payments during the draw and repayment periods
- Interest-only and principal-and-interest payment scenarios
- How loan amount, rate, and term impact your monthly costs
What It Doesn’t
- Your final credit limit or loan approval
- Exact origination fees or closing costs
- Future rate adjustments on variable-rate HELOCs
Tap Into Your Home's Equity with Confidence
Glossary
Every input and output the calculator uses, explained in plain terms.
Current Loan Inputs
New Loan Inputs
Outputs
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See What Your Home’s Equity Could Do For You
Estimate your payment, explore borrowing options, and find out how much flexibility a HELOC could provide.
Frequently Asked Questions
What is loanDepot’s 5x5 HELOC?
The 5×5 HELOC is a home equity line of credit offered by loanDepot and backed by Figure Lending LLC. “5×5” refers to the customer experience — a 5-minute online application and funding in as few as 5 business days. The line is available from $25,000 to $750,000 with terms of 10, 15, 20, or 30 years.
What terms and draw periods are available on the 5x5 HELOC?
You choose a repayment term of 10, 15, 20, or 30 years at application, and each term has a matching additional-draw period. During your draw period you can take additional draws of $500 or more up to 100% of your credit limit as you pay down the balance.
How do additional draws work on the 5x5 HELOC?
As you pay down your initial balance, you can take additional draws of at least $500 up to 100% of your original credit limit during the draw period. No new hard credit pull is performed, and there is a 6-business-day wait period after a payment before that credit becomes available for redraw.
How much can I borrow with loanDepot’s 5x5 HELOC?
Loan amounts range from $25,000 to $750,000 (maximum $750,000 per borrower), subject to credit, combined loan-to-value (CLTV), and property type. Owner-occupied primary residences can qualify for up to 85% CLTV, secondary properties up to 80% CLTV in 1st-lien or 70% in 2nd-lien position, and 3rd-lien properties up to 70% CLTV. Maximum debt-to-income is 50%.
What credit score do I need for the 5x5 HELOC?
The minimum FICO is 600 for primary residences and 680 for secondary or investment properties. Your credit score, lien position, occupancy, and loan amount together determine the maximum loan and CLTV you qualify.
Is there an origination fee on the 5x5 HELOC?
Yes — origination fees range from 1.50% to 4.99% and are rolled into the total loan amount, so there are no out-of-pocket costs at closing. A higher origination fee reduces your APR and monthly payment but increases the total line size. In states with an origination-fee cap below the standard range (IN, LA, ME, NC, RI, TN, VT, WA), the fee is capped at the state’s limit.
Are there any prepayment penalties or closing costs?
There are no prepayment penalties and no annual fees on loanDepot’s 5×5 HELOC. However, if a borrower pays back 90% or more of the loan within 16 weeks of closing, an early-payoff clawback provision may apply. You also get a 0.25% rate discount for enrolling in autopay, and the entire loan (including the origination fee) is funded with no out-of-pocket costs.
What properties are eligible for the 5x5 HELOC?
Eligible property types include single-family residences, townhomes, planned unit developments (PUDs), condominiums, duplexes, and 3–4 unit properties, in primary, secondary, and investment (non-owner-occupied) occupancies. Properties must be seasoned at least 90 days from purchase. Ineligible property types include co-ops, manufactured housing, mixed-use, properties over 20 acres (10 acres in Texas), reverse-mortgaged homes, log homes, and land-trust-owned properties.
Can I do the renovation work myself with a renovation loan?
Generally no — all four programs (203k Standard, 203k Limited, HomeStyle, CHOICERenovation) require licensed contractors. FHA 203(k) has strict rules about DIY work, and even where limited DIY is allowed, the borrower must demonstrate the skills and won’t be reimbursed for their own labor. Investment properties on HomeStyle require licensed contractors 100% of the time.
*loanDepot Lifetime Guarantee is non-transferable and does not apply to loans obtained to purchase a new property, new loans that result in the creation of a separate lien on the current property (i.e., a “home equity loan”), renovation loans, bond loan programs, and down payment assistance programs. “Lender fee” does not include discount points associated with the loan transaction nor does it include fee associated with third-party closing costs. Terms and conditions apply. Please refer to the website: http://www.loanDepot.com/lifetime-guarantee for the most current terms and conditions as they are subject to change without notice.
loanDepot.com, LLC is not acting on behalf of or at the direction of HUD/FHA or the federal government.