Loan Payoff Calculator/Line of Credit Payoff

When will your loan or home equity line of credit be paid off? Use this calculator to see what it will take to payoff your line of credit/home equity line of credit, and what you can change to meet your line of credit repayment goals.

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Loan Payoff / Line of Credit Payoff - Definitions

Current balance - Current outstanding balance on your line of credit/home equity line of credit.
Pay off goal (in months) - Your goal for paying off this home equity line of credit. This is the number of months by which you would like to have completely paid off this home equity line of credit balance.
Current monthly payment - The amount you are currently paying per month on this home equity line of credit. Please enter the amount you actually pay, not the minimum payment. This amount is used to calculate how long it will take you to payoff your home equity line of credit balance.
New charges per month - Total new charges you expect to put on this home equity line of credit per month.
Rate change (per year) - If you expect the interest to change in the next year, use this to indicate how much. For decreasing rates, enter negative numbers.
Interest rate (APR) - The annual percentage rate for this home equity line of credit.
Annual fee - Your annual fee for this home equity line of credit.
Draw - Amount to draw from this home equity line of credit.
Months from now - Number of months from now before your draws will occur.

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