Credit Score Facts and Myths
Building credit is an important part of your overall financial picture. And, because it’s so important, that means there is
MoneyMoments Home / Resources / Calculators / Consolidating Debt with Home Equity
Home equity loans can be used to consolidate account balances from multiple credit cards or installment loans into a single loan, while offering the added benefit of consolidating multiple payments into a single monthly payment. Using home equity for debt consolidation can be beneficial if the repayment period for paying off the home equity loan is shorter than it would be for your existing debts, or if the interest paid over the repayment period is less than what you would pay without consolidating your debt. Use the MidFirst Bank Consolidating Debt with Home Equity Calculator to determine if consolidating your debt is the right choice.
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