Loan Information Loan amount? $ Interest rate? % Interest-only period (years)? Repayment period (years)? Printer-friendly version Line of Credit Information Loan Amount Draw Period Payment Repayment Period Payment Calculations are estimates for informational purposes only. Chart Table Amortization Email Results First Name Last Name Email Address Phone Number Submit Repayment of a home equity line of credit requires that the borrower makes a monthly payment to the lender. For our HELOC Flex home equity lines of credit, borrowers can make interest-only payments for a defined period, after which a repayment period begins. Interest-only payments are based on the outstanding loan balance and current interest rate. During the repayment period, the payment includes repayment of the loan principal, plus monthly interest on the outstanding balance. At the start of the repayment period, the monthly payment will be calculated by dividing the current principal balance by 240. The monthly finance charge (interest) will be based on the outstanding balance and current interest rate and will be added to 1/240th of the principal balance to determine the amount of your monthly payment. An increase in the annual percentage rate will result in a higher payment during the draw and repayment periods.