Old Second National Bank is committed to protecting your privacy and ensuring your private information is secure. For your protection, do not send sensitive information such as account numbers, Social Security numbers or private information through email.

Paying Off a Home Equity Loan or Line of Credit

The length of time it will take to pay off a home equity loan or line of credit is largely 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 time period.