Because HELoans are paid in lump sums up front, monthly payment amounts are the same every month for the life of the loan—unless you decide to pay your HELoan off early.
Your monthly payment will be based on the APR in effect at the start of your loan.
For example, if your HELoan is $75,000 with a 15-year term and a 7.5% interest rate, your monthly payment could be $695.26.
When will I start making monthly payments on my HELoan through Prosper?
You will begin making monthly payments as soon as you take out your HELoan. Your lender can provide more information about when your first payment will be due.
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