The standard limit for a participant loan repayment period is five years or 60 months.

The exception to the rule is for using the loan to purchase a primary residence (real estate), in which the repayment period can extend up to 15 years. In order to qualify for the extended repayment period, the loan must be designated as going towards the purchase of a primary residence property.

Please note that the extended repayment period is not applicable for refinancing and may be made toward new purchases only.

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