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Easy Equity FAQs

  • When do I begin to pay interest on my Easy Equity Loan?

    Interest begins to accrue on your balance on the day the money is drawn.

  • How often does the interest rate change on my Easy Equity Loan?

    The interest rate may change as often as quarterly.

  • How is my payment calculated on my Easy Equity Loan?

    Your minimum monthly payment will be calculated at 1% of the balance at the time the last draw was taken. For example:

    • Your current balance is $2,500. You take a draw of $300 to bring your new balance to $2,800. Your minimum monthly payment will be $28.
    • After your last draw, your loan balance was $4,000. You have paid your loan down to a current balance of $3,000. The minimum payment due is $40. Your minimum payment will not change until you take a new draw on the account.

    When the draw period expires, your minimum payment is established, and will not change until the balance is paid in full.

  • Who can I contact if I have more questions?

    Our Mortgage Servicing team is happy to help! We are located in Menomonie, Wisconsin and are available Monday through Friday from 8:30 a.m. to 5 p.m. CST. Our contact information is (800) 924-0022 ext. 7200 or [email protected].

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