CURRENT BALANCE: Current outstanding balance on your mortgage or any other debts you wish to consolidate.

PAYOFF GOAL (IN MONTHS): Your goal for paying off this line of credit. This is the number of months by which you would like to have completely paid off this line of credit balance. Keep in mind, your current income versus expenses will ultimately dictate the timeline.

NET MONTHLY INCOME: The amount of your household monthly income EXCLUDING taxes. This amount is used to calculate how long it will take you to payoff your balance.

MONTHLY EXPENSES: Total new charges you expect to put on this line of credit per month. (Be sure to EXCLUDE your monthly mortgage payment. You won't have one any longer!)

RATE CHANGE (PER YEAR): If you expect the interest to change in the next year, use this to indicate how much. For decreasing rates, enter negative numbers.

INTEREST RATE (APR): The annual percentage rate for this line of credit. Annual fee: Your annual fee for this line of credit.

DRAW: Amount to draw from this line of credit.

MONTHS FROM NOW: Number of months from now before your draws will occur.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.