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Should I Use HELOC to Lower Debt Payments?

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Loan Info
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Loan Length (Yrs)
Closing Cost ($)
Your Tax Rate (%)
Auto Loan Amount ($) Payment ($) Interest (%)
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Financial Analysis
  Debt HELOC
Debt Amount $9,000.00
Monthly Payment $910.00 $56.15
Average Interest Rate 12.933% 6.375%
Payoff Timeline 0 Yrs 11 Mts 30 Yrs 0 Mts
Total Monthly Payment $9,567.93 $20,213.38
Total Deductible Interest $0.00 $11,213.38
Average Annual Tax Savings $0.00 $97.18

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Average Rates
 
30 Year Fixed: 3.50%
15 Year Fixed: 2.63%
5 Year ARM: 2.25%

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