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.
Paying Off a Home Equity Loan or Line of Credit
Paying Off a Home Equity Loan or Line of Credit
Home Equity Payoff Summary
Monthly Payment
Total Interest
Months to Pay Off
The accuracy of this calculator is not guaranteed by First Citizens Bank [or its affiliates] and is intended for informational purposes only. The calculator displayed does not constitute the advice of, or reflect actual products, services, rates and/or terms available from First Citizens Bank [or its affiliates] and nothing contained in the calculator shall constitute an offer or solicitation of a product or service by First Citizens Bank [or its affiliates].