Home
SEARCH:
partners consumers counselors events press area team more


Your Monthly Loan Payment: How Much Can You Afford?
Monthly Income
Salary $ 
Other (Social Security, child support, etc.) $ 
Click here for total monthly income
 $ 
Monthly Expenses
Mortgage $ 
Food $ 
Electric bill $ 
Gas bill $ 
Heating Oil bill $ 
Water bill $ 
Insurance (car, house, life) $ 
Car payment $ 
Credit card payments* $ 
Child care $ 
Clothing $ 
School/work supplies $ 
Transportation $ 
Tuition $ 
Savings* $ 
Phone bill $ 
Other bills (cable, Internet, etc.) $ 
Medical expenses $ 
Alimony/child support $ 
Entertainment (movies, restaurants, video rentals, etc.) $ 
Click here for total monthly expenses $ 
TOTAL INCOME $ 
(minus) TOTAL EXPENSES $ 
(equals) BIGGEST monthly home equity loan payment you can afford $ 
If your TOTAL EXPENSES are bigger than your TOTAL INCOME, a home equity loan probably isn't right for you. Instead, concentrate on cutting your spending and reducing the debt you already have.

*If you aren't putting money aside for savings each month, or if you can only afford to make the minimum payments on your credit cards, you should avoid taking on more debt.

TALK TO A CREDIT COUNSELOR ABOUT WAYS YOU CAN IMPROVE YOUR FINANCIAL PICTURE.

BorrowSmart Public Education Foundation provides the knowledge, skills and tools home equity borrowers need to gain financial literacy and "borrow smart."

Established in 2001, BorrowSmart and its partners empower consumer equity borrowers through lenders, credit counselors, regulators and direct contact by providing free information and education that leads to open access to available credit for all homeowners.
BorrowSmart Public Education Foundation will grow to a national presence and be recognized throughout the housing and financial communities for its educational programs and services to reduce the national foreclosure rate among home equity borrowers. BorrowSmart programs will create smarter home equity borrowers and more home ownership retention across America.
 




Home  |  Smart Money Solution  |  Smart Loan Shopping  |  Knowing Your Rights  |  Getting Help  |  Free Kit  |  Training  |  Espanol  |  Become a Partner
BorrowSmart is a consumer service provided by the BorrowSmart Public Education Foundation.
© 2002 - 2009 BorrowSmart Public Education Foundation.