Home Equity Debt Investment Calculator

This Calculator will tell you the benefits of consolidating all your high interest rate credit card debt into 1 single low interest loan using your home equity line of credit. You can enter 4 types of debts including Credit Card Debt, Auto Loans, Student Loans or Other. You enter the current principal balances owing, what interest rate you are paying as well as the monthly payment amount, and how many more months of payments are left. Then, enter the home equity loan information in the "New Loan Information" section. Enter the interest rate you will be paying on your home equity loan, estimate of mortgage closing costs and expected Federal & State tax rates. After, click on the "Calculate New" button and you will see your savings and reductions in your monthly payments as well as any tax savings.

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 & State
Tax Rates
%
%
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: