Home Equity Loans for Debt Consolidation

for Home Remodeling

for Debt Consolidation

for Auto Buying

for College Education

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other Home Equity Uses

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Sample Equity Rates

Current Prime Rate: 5.00%

Rate Range: see notes	LTV	Type
PRIME RATE+ (-0.50 to 0.25%)	80%	LINE
PRIME RATE+ (0.25 to 1.50%)	90%	LINE
PRIME RATE+ (0.00 to 2.50%)	80%	LOAN
PRIME RATE+ (2.50 to 3.75%)	90%	LOAN

Guide: How to Negotiate Rates

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Calculate Numbers: Equity Calculators

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Before You Exit Site

using your home equity for - CONSOLIDATING DEBTS

Summary Information (note)

Type:

Use a Home Equity Loan to Payoff All Debt
with a repayment term from 10-15-20 years — use the loan to consolidate debts into one, low repayment plan
use the Debt Consolidation Worksheet below

Use:

Are Your Bills Piling Up?
Are you paying too much interest on revolving credit card accounts? Or are you having problems managing all of your outstanding debts?

You may want to consolidate.
Use the equity in your home to combine all of your existing accounts into one single payment that is manageable and affordable. You can consolidate:

·  credit cards
·  department store accounts
·  installment loans
·  student loans
·  auto loans
·  recreational vehicle loans

·  even your home mortgage: see refi

Why:

Using your Home Equity as a "Debt Consolidator"

is a smart way to manage your accounts and reduce monthly costs.

Jump to our "Debt Consolidator Worksheet" below to calculate your monthly savings.

The interest charges on your home equity loan may be deducted from your taxes if you qualify. Consult your tax advisor for information. This can add up to additional savings that can reduce your overall debt payments.

Pros:

Home Equity Loan Benefits

	·	select a repayment plan that fits your budget — calculate your repayment options

	·	find repayment plans that can be from 5-10-20 years, giving you the choice of low monthly payments to start

	·	pay the minimum monthly payments or any additional amount at anytime

	·	deduct interest charges from your taxes if you qualify — view your effective tax rate savings

	·	get competitive rates that are as low or lower than many credit card consolidation programs

	·	benefits may vary by lending institution: view our summary notes of product features and terms

Apply Online: up to four lender reviews

or dial 1-877-777-1370

Tip:

How to Avoid Future Debt

You can avoid future debt by managing your spending habits using pre-paid credit cards — see example how pre-paid cards can work for you

Tip:

Use Your Home Equity as a Bank

Become a true banker by using the equity value of your home as capital to payoff all of your debts, including your mortgage loan.

By using your home equity as a money account, you can finance items with minimal cost — see our presentation on becoming a banker

Debt Consolidation Worksheet

click here to print the home equity comparison sheet to help shop lenders

Use the worksheet below to estimate your potential monthly savings. Enter your current loan amount balance and current rate.

Please note that your actual savings may vary depending on loan amounts, current rates, and other factors at the time that you consolidate. This worksheet should be viewed as an example of potential savings.


Account	Existing Balance	Interest Rate(APR)
Credit Card 1	$	%
Credit Card 2	$	%
Credit Card 3	$	%
Auto Loan 1	$	%
Auto Loan 2	$	%
Boat/RV Loan	$	%
Education Loans	$	%
Personal Loans	$	%
Other Loans	$	%

Enter your home equity loan consolidation rate (APR): note: Note: your rate may vary depending on credit quality, LTV position and loan amount. Current Prime Rate: 7.75%		%

Enter your loan repayment terms (10yr=120 months, 15yr=180 months, 20yr=240):		months

Your total outstanding balance:		$
By consolidating and paying off your total debts within the time specified at the annual percentage rate shown, your potential monthly savings is shown:
Your current monthly payment if you did not consolidate		$
Your estimated monthly payment if you did consolidate		$
Potential average monthly savings by consolidating		$
Potential annual savings		$

Note: The recommended product, term and use are listed as illustrative purposes on how you might use the equity in your home. Please note that your circumstances may be different and that the recommended product, term and use may not fit your particular need.

YourEquity.com is not a lender. Therefore, we cannot quote rates or guarantee best terms. We refer applicants interested in getting a lending quote to Secure Rights, a licensed mortgage broker representing multiple home equity lenders.

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