HELOC Payment Calculator
Estimate the monthly payment on your HELOC, comparing interest-only and amortizing payment options.
Typically Prime + 0.5% to Prime + 1.5%
Standalone Canadian HELOCs require interest-only payments — your balance never goes down unless you choose to pay extra. Amortizing pays principal too.
Monthly payment
$496.88/mo
Interest only — balance stays the same
HELOC rates float with the Bank of Canada's policy rate. A 1% rate hike on a $75,000 balance increases the interest-only payment by about $63 per month.
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