Last Revised: June 17, 2024

Debt Consolidation

This information is provided for illustrative and educational purposes only, and all payment reduction calculations are estimates. For unsecured loans, the estimated reduction amount is the difference between the portion of the new HELOC monthly payment that will go towards the balance of debts selected for consolidation and the minimum monthly payment(s) on your existing loan(s). For credit card(s), estimated reduction is the difference between the portion of the new HELOC monthly payment that will go towards the balance of debts selected for consolidation amount and the monthly interest on your current balance. Actual reduction will vary and could be less than estimated. Refinancing at a longer repayment term may lower your monthly loan payments, but may also increase the total interest paid over the life of the loan. Any reduction projected is as of today's date and does not consider any continued use of revolving credit lines.