Participant Loans

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

The only exception is for using the loan to purchase a primary residence (real estate).  If the participant loan will be used for the purchase of a primary resident, the loan repayment period can be extended 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 can only be used toward new purchases only.