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We're considering applying for a home equity loan of approximately $450,000 with a 15 year term. Is there a penalty for early repayment of the loan?
January 13, 2015 12:59:18 PM
Borrowing & Managing Your Credit
In reply to John, Brookline
Welcome to TD Helps, John and thank you for considering TD for your lending needs! We'd be happy to help.
For a new Home Equity Loan, there is no penalty for repaying the loan early; however, for a Home Equity Line of Credit, there may be. You can view more details about these loans here http://bit.ly/1u3g9Bs. When you are ready to apply, you can fill out an application via the mentioned link, over the phone 24/7 by dialing 800-937-5020, or during lobby hours at a TD Bank Store. For our Store hours and locations please visit http://bit.ly/TDStores.
If you have any specific questions about our Home Equity Loans or Lines of Credit, please feel free to contact our Financial Solutions Group by dialing the number mentioned above or visiting a TD Store.
We hope this helps, John and have a good afternoon.
Megan K, Mount Laurel
January 13, 2015 01:05:08 PM