How to calculate Amortization schedule for HELOC loan?
The simplest way is to set up a spreadsheet to calculate it month by month. After a monthly payment is made, the balance is multiplied by 1/12 of the interest rate. That monthly interest amount is added to the previous month’s balance to give you your new loan balance. If you have one of those floating rate HELOCs, you will have to add a column for the current interest rate so your schedule can adjust as the interest rate changes.
