Paying off Your Home Equity Loan

The length of time it will take to pay off a home equity loan or line of credit is largely driven by the interest rate being paid on your outstanding balance, how much you continue to use the line of credit and what monthly payment is made each month.

Decreasing any additional spending and increasing monthly payments are an effective strategy for paying off the outstanding balance in a shorter time period. What will your payment strategy on your home equity loan or line of credit be?

The information provided in these articles is intended for informational purposes only. It is not to be construed as the opinion of Central Bancompany, Inc., and/or its subsidiaries and does not imply endorsement or support of any of the mentioned information, products, services, or providers. All information presented is without any representation, guaranty, or warranty regarding the accuracy, relevance, or completeness of the information.