HELOC vs Home Equity Loan
$
$5,000$500,000
%
0%25%
years
1 years30 years
%
0%25%
years
1 years15 years
years
1 years30 years
Lower estimated total cost$54,013.03
Fixed-loan monthly payment$716.74
Fixed-loan total interest$54,013.03
HELOC draw-period payment$562.50
HELOC repayment payment$674.79
HELOC total interest$154,450.67