You don't have to be a banking graduate to know
that paying low interest beats high interest.
Or that the less you pay in taxes, the more money
you keep in your pocket. But what you may not
know is that the equity you've built in your home
could be the key to achieving those goals.
Take
a closer look at what EquityLine Money Management
can do for your financial picture. Below, you'll
be asked to enter information into the blue areas
of the Management Tool. Once you have your
information entered, press 'Calculate' at the
bottom of the page, and the gray fields will automatically
be figured and input for you. See what kind
of savings you could enjoy!
Please enter values without commas (5600 not 5,600 ),
dollar signs (300 not $300 ), or percent
symbols (5.6 not 5.6% ).
Home EquityLine
Money Management Tool
Appraised
Home Value $
Please enter
your mortgage information into the blue areas
to the left. By using your Appraised Home Value
and your mortgage(s), we can calculate how much
equity you have available for a Home EquityLine.
First Mortgage $
Second Mortgage $
Available
for Home Equity Line $
Below, enter the information on your auto loans,
credit cards and whatever other debt sources you
might have. Enter your average balance and the Annual
Percentage Rate of each one. Our Money Management
Tool will show you how much interest you pay annually
on each one, as well as your total balance and taxable
interest. Remember, you have to hit the 'Calculate'
button at the bottom of the page to see your results!
Other personal debt:
Average
Average
Automobile
loan #1: $
$
Automobile
loan #2: $
$
Credit card
#1 $
$
Credit card
#2 $
$
Credit card
#3 $
$
Other loan
#1 $
$
Other loan #2 $
$
Total Balance $
Taxable Interest
$
Realized APR
You can find
your tax rate for the field to the left by clicking
on the names and using the charts to find which
tax rate bracket you fall into. Enter that value
into the appropriate field on the left.
Tool Results: (Don't
worry about entering data into these fields. Our
tool will do that for you.)
EquityLine
Interest rate
$
Savings through
loan consolidation
$
Savings through
tax deduction
$
Total Savings
converting to EquityLine*
$
Cost to borrow money (after taxes)->
$
Is all your information in? Then press 'Calculate'
below
Look! By consolidating
your loans listed above
