Calculate Secret Savings With Home Equity Loan Magic
Calculating Your Potential Savings
The magic of a home equity loan lies in its potential to save you money in the long run. By consolidating high-interest debts into a single loan with a lower interest rate, you can significantly reduce your monthly payments. For example, if you have $30,000 in credit card debt at an average interest rate of 18%, switching to a home equity loan with a 5% interest rate can save you thousands in interest payments annually2.