Debt Consolidation With Home Equity Calculator
For many homeowners, borrowing against your home is a great way to consolidate debt. See if this strategy makes sense for you with this easy-to-use calculator.
Mortgage Loans
Buying or refinancing a home is a big step, and ENB’s mortgage team is here to guide you through it. You’ll work with local lenders who take the time to understand your goals and help you move forward with confidence. A local bank means decisions are made close to home, by people who know the market and the community.
Learn More
Financial Know-How Starts Here
Helpful tips and real-world guidance for financial well-being from experts you can trust.
HomeLine FAQs
A HELOC gives you access to funds as you need them, up to an approved limit. You borrow only what you use. A home equity loan gives you a one-time lump sum with a fixed payment right away. If you want flexibility over time, a HELOC is often a better fit.
Home equity can be helpful when you’re planning for larger expenses, like home improvements, education costs, or consolidating higher-interest debt. The right choice depends on your goals, budget, and comfort level. Talking it through with a local loan expert can help you decide.
No. A HELOC is separate from your primary mortgage. You keep your current mortgage, rate, and payment – the HELOC simply uses your home’s equity as collateral.
Your approved credit limit is based on your home’s value at the time you apply. Changes in the housing market don’t affect money you’ve already borrowed. Future access to unused credit may depend on market conditions and loan terms.
Yes. With a HELOC, interest is generally based on the amount you’ve borrowed – not the full credit limit.
That means unused funds don’t accrue interest.
- 1APR = Annual percentage rate. The 3.99% 9-month introductory rate is for the first nine monthly billing cycles after closing and applies to new lines of credit opened with $25,000 or more of new money and requires an automatic deduction of payment from an ENB deposit account. Offer good on consumer purpose Home Equity Line of Credit (HELOC) secured with a primary residence. 2After the introductory rate period expires, the APR will be a variable rate based on the Wall Street Journal Prime (WSJP) Rate + 0.75%, our standard rate, 7.50% APR as of 12/11/2025. The advertised rate of 6.75% APR is our standard rate with the following discounts applied: 1)Automatic payment deduction from an ENB deposit account, 2)a credit score of 750 or greater, 3)a minimum line amount of $50,000, 4)loan amount will not exceed 80% Loan to Value (LTV) Ratio. Rates could be higher if deposit account activity does not support automatic payment. Other rates are possible, subject to loan amount and credit score. Depending on credit qualifications and payment option selected, APRs may range from 6.50% (WSJP minus 0.25%) to 9.50% (WSJP plus 2.75%). 18% maximum APR. Rates are subject to change and special offers may be discontinued without notice. Standard underwriting criteria apply. Subject to credit approval. This is a variable rate line of credit with a maximum Loan to Value (LTV) ratio of 90%. Credit score may adjust maximum LTV ratio requirements. Homeowners insurance required. Flood insurance may be required. HELOC monthly payment equals 0.50% principal balance plus interest on billing date ($50 minimum) and will vary based on outstanding balance. This variable-rate HELOC monthly payment will be added to the monthly payments of balances converted to fixed rate terms under the plan for a total monthly payment statement. Any projected payments do not include taxes and insurance premiums, if applicable; the actual payment will be greater. 25-year draw period. Minimum payments made for the full 25 years on a $10,000 balance at the introductory rate and disclosed rate adjustment will result in a final balloon payment of $50.29. Fees on HELOCs could range from $318.03 to $986.78 and include a credit report, appraisal, lien search, flood search, recording and satisfaction fees. No-fee options are available. Properties in Maryland may be subject to a recordation tax. The amount is determined by the approved loan amount and the county in which the property is located. Courthouse satisfaction fees may be assessed when the HELOC is paid off. A $100 rate conversion fee applies each time you lock in a rate. The fee is waived if lock-in occurs at opening. Rates for lock-in terms are available at all banking offices and EPNB.com. If applicable, the borrower must pay a $250 Trust Review fee. See our team for details.
