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Knowledge Base Article

HELOC payment calculation

How are the Home Equity Line of Credit (HELOC) payments calculated?

Delta Community offers two payment options; a principal plus and an interest only option. Principal plus interest payment is calculated at 1.5% of the outstanding balance or $100.00 whichever is greater. An interest only loan may be appropriate if you want a low payment and the flexibility to pay principal at your convenience. More information on Interest Only HELOC.