$100,000 home-equity loan · 15 years · 7% — Monthly Payment
Estimated principal-and-interest payment: $898.83/month. Total interest over 15 years: $61,789.09.
Monthly payment
$898.83
Total paid
$161,789.09
Total interest
$61,789.09
38.2% of total
About this scenario
Home-equity or second-lien borrowing at $100,000 over 15 years is often used for renovations. Rates are usually higher than first mortgages but lower than unsecured credit — still model the payment alongside your primary loan.
Disclaimer: estimates only, not a loan offer or financial advice. Rates, fees, and eligibility vary by lender and borrower profile.
Method & sources
Monthly payments use the standard amortisation formula M = P × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the amount borrowed, r is the annual rate ÷ 12 and n is the number of monthly payments. Interest is assumed fixed for the whole term with no fees, so an APR that includes origination fees will produce a slightly higher real cost.
Disclaimer: results are estimates for educational purposes only and are not financial, tax or legal advice. Verify important figures with a qualified professional or the official source before making decisions.
Page last updated: October 1, 2026
Frequently asked questions
What is the monthly payment on $100,000 home-equity loan · 15 years · 7%?
At 7% APR over 15 years, the principal-and-interest payment is about $898.83 per month. Taxes, insurance, and fees are not included.
How much total interest will I pay?
Over the full term, interest totals about $61,789.09 on top of the $100,000.00 principal. Extra payments toward principal reduce this figure.
Is this a loan quote?
No. This is an educational amortization estimate for a fixed-rate, fully amortizing loan. Lenders may quote different APRs, fees, or terms — confirm with your provider before borrowing.
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