Most credit card minimums are about 1% of the balance plus interest. The balance shrinks slowly, so the payment shrinks too — and the payoff stretches into decades. This calculator shows you how a HELOC, at the same dollar payment you're already making, collapses that timeline.
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Educational tool only. Not a quote and not a commitment to lend. Actual HELOC rates and terms depend on your credit, equity, income, and lender. All loans subject to underwriting approval.
The calculator gives you the math. A 30-minute strategy call gives you the structure — whether a HELOC makes sense for your specific situation, what rate you'd actually qualify for, and which lenders fit your file. We'll tell you when the answer is "don't do anything yet."
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Each month, your credit card charges interest on the full balance at your APR. Whatever payment you make first pays that interest, then chips at the principal. At 20% APR on $40,000, that is about $667 in interest the first month alone.
If a HELOC is at 8%, that same $40,000 balance accrues only ~$267 in interest the first month. The other $400 of your payment now hits principal instead of interest. That snowballs every month.
Keep paying what you are already paying. The lower rate means more of every payment kills principal. Most consolidations cut total interest by half or more and shave 1-3 years off the payoff timeline.
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The HELOC has a lower interest rate. At the same monthly payment, more of each dollar goes to principal instead of interest. Over the life of the loan that difference compounds. The calculator just runs the standard amortization formula on both paths and shows you the gap.
That is the most common reason consolidation does not work. If you wipe the card to zero with HELOC funds and then run the balance back up, you now have HELOC debt AND credit card debt. We talk this through with every client before recommending a consolidation. The calculator assumes you stop adding to the cards.
Most digital HELOC programs in Orange County are currently in the 7-10% APR range depending on credit, CLTV, and lender. We default the calculator to 8% as a reasonable middle. We do not quote a rate without seeing your file — when you book a call we will tell you what programs your file actually qualifies for.
Most lenders want a 680-700 minimum credit score and combined loan-to-value (first mortgage plus HELOC) under 85-90%. Your income matters but is often less restrictive than for a refinance. The best way to know what you qualify for is to share your numbers on a 30-minute call.
After following him through many videos, I reached out to him. He promptly responded with text, email and call. He followed up daily to be sure that I was on track. He was able to answer all of my questions.
The IRS did not release my tax records for months and Jason helped me wait calmly and reassured me everything would fall into place. It did, and the rates were better.
Jason's 1-on-1 guidance and explanation of the process. He stuck with me and by me through the whole process to make sure I understood and that I was getting the best deal possible for my situation. I see this as a continuous relationship.
Reviews verbatim from 152 verified reviews on Experience.com → · All loans subject to underwriting approval. Equal Housing Lender.
A 30-minute call covers your full picture: equity, income, credit, and whether a HELOC is genuinely the right move for your specific debt. No pitch, no rush, no obligation.
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Free 30-minute strategy call. No hard credit pull on the initial call. No obligation. If the numbers do not work for you, we will say so.