Estimate the monthly payment on a home-equity line of credit in California.
HELOCs use a variable rate tied to the prime rate in California. In the draw period payments are often interest-only, then the balance amortizes in repayment. This shows both modes.
Payment
Interest-only: P × monthly rate; Amortized: standard PMT
Estimate — variable rates change with prime.
No — most are variable, so your payment can change as the prime rate moves.
Rates are approximate reference values. Local rates, exemptions and rules can differ, so treat the output as a planning figure only.