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Do I have to make interest payment on home equity line of credit? ?

April 26, 2017Business Finance home equity line of credit payment

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Do I have to make interest payment on home equity line of credit? ?

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Home equity lines of credit are like credit cards except they are secured by your home. As such you need to make minimum payments and the interest rate is not fixed. It can go up. If you can’t afford to make reasonable payments on a home equity line of credit withdrawal, you can’t afford to make the withdrawal.