Paying Off a Home Equity Loan or Line of Credit


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Home Equity Payoff Summary

Monthly Payment
Total Interest
Months to Pay Off

The length of time it will take to pay off a home equity loan or line of credit is primarily 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 period.

Results of the calculators are not a guarantee of credit. Examples are hypothetical and for illustrative purposes only.