HELOC vs Home Equity Loan
Compare a HELOC against a fixed home equity loan at the same balance and term to see which costs less.
Your home value and loan numbers stay on this page — nothing is uploadedTry: HELOC balance=50000, HELOC APR=8, Home equity loan APR=7, Term (months)=240 → 8%, 7%, $418.22, $387.65, $50,372.81, $43,035.87, Home equity loan
How to use
Enter the amount, the HELOC APR, the fixed loan APR, and the term. The calculator compares monthly payments and total interest so you can pick the cheaper structure for your plan.
FAQ
Which is cheaper?
Usually the lower APR wins on interest, but a HELOC only costs interest on what you draw, while a loan is fixed from day one.
When is a fixed loan better?
If you need the whole amount at once and rates are steady, a fixed loan is predictable.