The interest rate also impacts your total month-to-month payment, as does the time period length; a long term means lower monthly funds, but extra interest. Test your FICO® Credit Score free of charge on mobile and on-line. A home fairness mortgage will be withdrawn as a lump sum, with a hard and fast charge and a reimbursement interval usually of five to 15 years, or as a house fairness line of credit with a variable charge.