Ask Terry Questions Home Equity loan pay off

Home Equity loan pay off

By Terry Savage on July 19, 2019 | Housing / Real Estate

Only owe $2700 on my home Equity loan. Should I pay off and keep open. Or pay off and close it. Afraid it will hurt my credit score.

Terry Says

It won’t hurt your credit score to pay off a home equity loan early.  And it’s probably a good idea if you have the cash.  Less debt to income might actually increase your credit score.  Besides, why pay interest if you don’t have to!



a personal
finance question