Repayment of a home equity loan requires that the borrower makes a monthly payment to the lender. That monthly payment includes both repayment of the loan principal, plus 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.
Calculations provided by Fintactix.
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Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
DuPage Credit Union home equity loan benefits
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Homeowners insurance required.
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Single-Family dwellings only in Illinois.
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We lend in all of Illinois on primary and secondary residences.
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Consult a tax advisor regarding deductibility of interest.
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Must have a Credit Union membership established and be in good standing.
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Other restrictions may apply.
800-323-2611
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