Exceptional Mortgage - Providing mortgage loans and information in California

Should I Consolidate Debt into a Home Equity Loan?

Existing Accounts
Amount	Payment	Int Rate
			Auto Loan
			Auto Loan
			Boat/RV Loans
			Other Loans
			Credit Card
			Credit Card
			Credit Card
			Credit Card
			Other Account
			Other Account

Consolidation Loan


	Interest Rate
	Length of Loan (Yrs)
	Upfront Costs ($)
	Discount Points
	Tax Rate (%)

Instructions

Enter estimated account information on all credit accounts you wish to consolidate. Additional accounts can be grouped into one entry. You may be better off not including loans which will be paid off sooner than your proposed consolidation loan, even if their interest rate is higher than the consolidation loan's rate.

Results

Account Analysis
Total Debt:	$9,000.00
Monthly Payments:	$910.00
Monthly Interest:	$97.00
Aggregate Interest Rate:	12.93%

Equity Loan Analysis
Loan Amount:	$9,000.00
Monthly Payment:	$86.01
Monthly Interest:	$60.00
Interest Rate:	8.00 %

Financial Analysis
Yearly Interest Savings:	$444.00
Additional Tax Savings:	$168.72
Total Cost of Loan:	$840.00
Break Even:	1 Yr(s) 1 Mth(s)
Payoff Timeline:	0 Yr(s) 11 Mth(s)

These calculations are only estimates and can only be used to evaluate the possible results of consolidating certain debts into an equity loan. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation. Please consult your tax advisor for information on the deductibility if interest for tax purposes.