Home Equity Line of credit
an Alternative to
Full Blown Debt Consolidation Refinance

Home equity line of credit has become very popular in recent years, as it is a very inexpensive alternative to a full blown refinance. However as they are normally based on Prime rate, a word of caution is in order. What may seam like an inexpensive solution can become very expensive in an environment of rising interest rates.

Debt Consolidation Home Equity Loan
Consolidating your high interest debt into one lower interest loan can reduce your monthly payments and provide you with income tax savings at the same time. Enter each one of the debts that you would like to pay off, along with their corresponding principal balances, interest rates, and monthly payment amounts. Once you have all your debts entered, make any desired changes to the "New Loan Information" default entries and then click on the "Calculate New" button.
Payment Description	Principal Balance	Interest Rate	Payment Amount	Payments Left	Interest Left










Totals >>>
New Loan Information
Need Additional Cash? If So Enter Amount Here		Interest Rate	Number of Years	Estimated Closing Costs	Fed & St. Tax Rate
		%			%

Results				Current	New Loan
Total Principal Balance:
Effective Rate Before Taxes:				%	%
Effective Rate After Taxes:				%	%
Total of Monthly Payments:
Monthly Tax Savings:
Monthly Payment Reduction:
Total Monthly Savings:

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Home Equity Line of credit an Alternative to Full Blown Debt Consolidation Refinance

Debt Consolidation Home Equity Loan

Home Equity Line of credit
an Alternative to
Full Blown Debt Consolidation Refinance