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Using Your Home Equity for Debt Relief

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.
(you can learn more - links scroll to information below)
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Using Your Home Equity for Debt Relief:

Why Use this Product Line

for reducing debt

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 program

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.

 

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

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Using Your Home Equity for Debt Relief:

Home Equity Line Benefits

benefits

Product Benefits

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Using Your Home Equity for Debt Relief:

Debt Consolidation Worksheet

suggested use

How You Might Use Your "Debt Consolidator "

click here to print the home equity equity worksheet to shop lenders

Use the calculation 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):

 %
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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Home Equity Application

USING YOUR HOME EQUITY

Current Prime Rate: 3.25%
Equity Rate Range * 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
* sample home equity rate ranges: see notes