Calculate a Home Equity Loan Payment

Loan Information

Loan Amount
Monthly Payment

Repayment of a Fixed Rate Equity Loan Option (FRELO) requires that the borrower makes a monthly payment to the lender. That monthly payment includes both repayment of the loan principal and 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 time, the percentage of the amount that goes towards principal will increase as the outstanding mortgage balance decreases.