Home equity line of credit (Heloc) also simply referred as home equity line. It is a loan amount were the lender agrees to lend a maximum amount rather than a fixed amount. Online line of credit payoff calculator to find the Payoff Credit Line in Months and New Monthly Payment by entering the current balance, current monthly payment, interest rate, payoff goal, new charges per month and annual fee. HELOC uses a line of credit to borrow sums that was beyond the credit limit, alike credit card.