Calculate a Home Equity Loan Payment

Repayment of a home equity loan requires that the borrower make a monthly payment to the lender. That monthly payment includes both repayment of the loan principal, plus monthly interest on the outstanding balance. Loan payments are amortized so that the monthly payment remains the same throughout the repayment period, but during that period, the percentage of the payment that goes towards principal will increase as the outstanding mortgage balance decreases.

DISCLOSURE

This article, tool or quiz above is for informational and educational purposes, is not an advertisement of Liberty Bank, is not for product promotion, do not constitute investment or legal advice, are estimates only, and may contain general information or examples regarding non-deposit products. Investments, stocks, mutual funds, securities, annuities and insurance products are not bank deposits; are subject to investment risks, including the possible loss of the principal amount invested; may lose value; are not insured by the FDIC; are not insured by any Federal Government Agency; and are not obligations of, nor guaranteed by Liberty Bank.

Liberty Bank makes no warranties or representations as to the accuracy, correctness, reliability or otherwise with respect to information set forth in the article, tool or quiz above and assumes no liability or responsibility for any omissions or errors in the content listed above.