Paying Off a Home Equity Loan or Line of Credit

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 the 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.

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.