A HELOC amortization schedule differs from a traditional fixed mortgage schedule because it spans two fundamentally different repayment structures: the flexible 10-year Draw Period and the 20-year Amortizing Repayment Period.
Draw Period Schedule (Years 1–10)
During the draw window, payments depend entirely on your active balance. As long as you make the minimum interest-only payment, your principal remains unchanged:
- Month 1 ($30,000 drawn @ 8.5%): $212.50 interest payment
- Month 12 ($60,000 drawn @ 8.5%): $425.00 interest payment
- Month 24 (Paid down to $20,000): $141.67 interest payment
Repayment Period Schedule (Years 11–30)
At month 121, your draw period terminates. The remaining principal is locked and divided into an amortized schedule of 120 or 240 equal monthly payments that include both principal reduction and interest charges.
| Timeline Stage | Outstanding Balance | Monthly Payment | Principal Paid | Interest Paid |
|---|---|---|---|---|
| Draw Year 1 (Mo 1) | $60,000 | $425.00 | $0.00 | $425.00 |
| Draw Year 10 (Mo 120) | $60,000 | $425.00 | $0.00 | $425.00 |
| Repayment Year 11 (Mo 121) | $59,864 | $520.69 | $95.69 | $425.00 |
| Repayment Year 20 (Mo 240) | $34,120 | $520.69 | $279.03 | $241.66 |
| Repayment Year 30 (Mo 360) | $0 | $520.69 | $517.03 | $3.66 |
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