Use a Home Equity Loan for Debt Consolidation?
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Home equity loans can be used to consolidate debt 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 this calculator to find out if you should use a home equity loan for debt consolidation.

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The calculations provided by this calculator are based entirely on the information you enter, including any loan amount and/or interest rate. These calculations do not reflect the terms available for any Regions loans or whether you qualify for any Regions loan. Find out more about Regions loans.