# Related Articles

## What Is The Monthly Payment For The HELOC

That depends. An outstanding balance will have a minimum monthly payment, which will fluctuate each month during the draw period because the payment is based on a few different factors, including: The total amount of funds withdrawn or transferred ...## Can The Home Loan Be Recast To Lower Payment & Interest

Yes. A loan recast is when the lender will reamortize the loan with the new (lower) balance. It is typically used when one has paid a lump sum toward the outstanding balance, in turn reducing the remaining monthly payments and interest. When a loan ...## How Much Extra Do We Add To Monthly Payments

Nothing! In fact, the more one uses their HELOC like a regular bank account - the quicker the mortgage is paid off, but with zero extra payments!## We Need Help Lowering Our HELOC Payments Due To Loss / Income / Medical Issue

One can get the HELOC payment down a bit by contacting the lender and asking them to recast the loan by stating, “Can this loan be recast with the remaining principal balance, over a 30 year term, so it drops the minimum payments?”## Can A Payment Be Skipped With A HELOC

No, one must make at least the minimum monthly payment.