Pay Off Debts with a Home Equity Loan

Our affiliate lenders provide home equity loans with fixed rate installment payments loans for bill consolidation. With a home equity loan you can use your home as collateral to consolidate bills, make home improvements, buy a new car, plan a vacation, etc. The minimum amount available for a loan is $15,000, but you can borrow as much as $250,000 with a 2nd mortgage and $1,000,000 with a 1st mortgage. There are no closing costs or fees associated with this type of equity loan.

Utilize home equity and save money with fixed rate debt consolidation loans.

Many debt consolidation loans are technically a home equity loan because they are borrowed using the home as collateral. A secure debt loan could be the first step towards reorganizing your debts with improved financial management for the years to come. Retake control of your finances, and make the most of a tax deductible fixed rate loan. Refinancing credit card interest can save take a $400 monthly savings and convert it into an interest bearing $4,800 savings account in just the first year.

Benefits: Home Equity Loans provide large amounts of cash at relatively low interest rates that make for affordable monthly payments. This loan type also provides certain tax advantages that are unavailable with other loans. (Consult with your Tax Advisor for more information.)

Downside: You are using your home as collateral. This puts your home at risk if you are unable to pay your mortgage on-time. If you sell your home, you will be required by most plans to pay off your credit line at that time. This could leave you stuck in your home when you are ready to move.

Remember, there are other ways to borrow money without using your home as collateral. See Refinancing for more options. If you don’t qualify for a consolidation loan, we have other debt settlement programs that settle credit card debt and provide significant savings regardless of your credit score.

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