Balance guides
Paying older balances with the equity in a home
Plain notes on what changes when several debts become one line secured by a house.
Featured guide
What moves, what stays and what to decide before the first transfer.
Combining balances
Paying other balances with a home equity line: what changes when the debt moves
What happens when card or loan balances are paid off with a home equity line, and the trade-offs that come with debt tied to a house.
Read the guide →Words used when balances are combined
Terms that appear when a home line is used to pay off other accounts.
Secured debt
A debt backed by property the lender can claim if payments stop.
Unsecured debt
A debt with no property pledged behind it, such as most card balances.
Payoff amount
The exact sum needed to close an account on a given day, including interest to that date.
Blended rate
A single figure that weighs several rates by the size of each balance.
Lien
The lender's recorded claim on the house while the line is open.
Repayment period
The years after drawing ends during which the balance is paid down.
How to use these guides
Points to keep in mind while reading.
Start with a list
Write down every balance, rate and payment before comparing anything.
Numbers are examples
Any figures here are round illustrations, not offers or quotes.
Your contract decides
The line's own agreement sets its fees, rate and rules.