Pay off Larg Expense
Use your Home Equity to pay off a large expense.

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A Home Equity Line is the Fastest, most common method to use Equity in your home for items like Debt Consolidation.
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The Basics - Pay off Large Expense
A Home Equity Line can help you pay down or off a large expense
- Use your home equity to your advantage! Get money out of your home and use it for anything you want. Find out if it makes sense to refinance with our HELOC calculator.
- Make home improvements to increase the value of your home, pay for college tuition, pay off high-interest credit card debt, or buy a vacation home.
Why You Should Choose Home-Equity-Line.com
- You’ll get a completely online application process with less paperwork, and you can track the status of your mortgage application.
- Our Home Loan Experts are available to answer your questions and help you understand the details so you get the right mortgage for you.
- After you close your loan, you can manage your mortgage online without any hidden fees.
- We service 99% of our mortgages, which means you can expect our great customer service to continue after you close.
Popular Loan Options for Lowering Your Mortgage Payment*
- FHA Loan – Refinance out of a skyrocketing mortgage payment with the fixed-rate security of a government-insured FHA loan. Find out if you could refinance without an appraisal with our easy FHA Streamline tool.
- 30-Year Loan – Looking for a more traditional loan option? Lock in today with a 30-year fixed.
- Adjustable Rate Mortgage – Get the lowest rate available with a 5- or 7- year ARM and potentially pay thousands less over a traditional fixed rate mortgage for the first 5 or 7 years of your loan.
- VA Loan – Get a low rate and payment with the VA loan if you’re a qualified veteran, military member, or spouse. Ask us if you are eligible for the great benefits of a VA loan!
*By Obtaining a Home Equity Line your existing loan, the total finance charges may be higher over the life of the loan
Frequently Asked Questions
How do I know if a Home Equity Line to consolidate debt is worth it?
- How much will I save? A lot may have changed since you bought your home – your credit score, your home value, mortgage rates. If any of these have improved, you should definitely explore how much you can lower your payment with our HELOC calculator.
- Will the savings cover the costs? It’s possible to add the costs associated with getting a new mortgage into the total refinance amount to avoid paying anything out of pocket at closing. However, refinancing in order to lower your payment may result in a longer loan term, and that might mean paying more in interest overall in the long run.
Talk to a Home Loan Expert or use our Home Equity Line Calculator to see if refinancing your home can help you lower your payment.
What does refinancing mean? How can it get me a lower monthly payment?
- A Lower Interest Rate – The higher your interest rate, the more you’ll pay for your mortgage both now and in the future. A lower rate equals a lower payment if you don’t shorten the length of your mortgage term.
- Gets Rid of Private Mortgage Insurance (PMI) – If you put less than 20% down on your original home loan, chances are you’re paying private mortgage insurance (PMI). If your home has increased in value and/or you have enough equity, you can refinance to eliminate this costly monthly payment.
- Refinance to a Longer-Term Loan – When you refinance to a longer-term loan, you’re stretching the amount you owe over a longer period of time. While you might pay more in interest overall, your monthly payment will decrease.
What is equity? How can it help me lower my payment?
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