Q:

How do I make payments on a home equity loan online?

A:

Quick Answer

Many banks and financial services companies allow consumers to make payments on home equity loans online. Bank of America customers can log in online to use the Bill Pay service to pay home equity loans, states Bank of America.

Continue Reading
How do I make payments on a home equity loan online?
Credit: David Goehring CC-BY-2.0

Full Answer

Wells Fargo is a bank and financial services company that allows customers to make payments on Wells Fargo home equity accounts or on other home equity accounts through its Wells Fargo Online service. Customers can log in online and choose to enroll in this service. After submitting the payment details, it can take one to three business days before the payment is posted, states Wells Fargo. The payments are applied to accrued interest first and then to applicable insurance and fees before being applied to the principal balance. However, Wells Fargo customers have the option to make principal-only payments as well.

Citizens Bank customers can also log in online to use the Online Bill Pay service for paying bills such as home equity loans, says Citizens Bank. Another bank that has an Online Bill Service is Commerce Bank. Customers who have checking accounts and use Online Banking may add this service and use it to pay bills such as home equity loans, notes Commerce Bank.

Learn more about Credit & Lending

Related Questions

Explore