Calculate a Home Equity Loan Payment

No matter what you plan to build or buy, take a good look before you borrow.

Low interest rates can help keep your monthly payments under control.

As you plan your project, factor in the payments. Home equity loans can be used for almost any purpose, ranging from remodeling projects to major purchases. Another benefit is that they come with lower interest rates than most other loan types. Still, you should double-check that your monthly payments will fit into your budget. As this calculator shows, the interest rate is one factor, but so are loan length and the total amount borrowed.

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