Debt Consolidation Options – Home, Auto, and Personal Loans

If you are exploring debt consolidation, Evergreen Credit Union can help. Bundling debts into a single payment can reduce money paid on interest, streamline your budget, and potentially extend your repayment windows. As part of the consolidation process, our lenders can help you identify debts on your credit report and assist you in making the payoffs.

Additionally, debt consolidation loans secured by collateral typically have lower interest rates over unsecured personal loans. There is no obligation to commit to a loan – call us at (920)729-2999 when you are ready to talk options.

Consolidation with Home Equity

Homeowners who have lived in their homes long term may have equity available. Equity is when the value of your home is greater than the outstanding loan balance.

Options available include:

  • Refinancing a first mortgage (long term interest rate change)
  • Home Equity or 2nd Mortgage (short term additional loan)
  • Home Equity Line of Credit (revolving loan to use as needed)

Appraisal and closing costs may be required when using your home for consolidation.

Consolidation with Auto Loan

Do you have a vehicle that is paid off, or was originally purchased in full? Auto Loans aren’t just for new purchases. Potential advantages of using an auto loan for debt include:

Using your vehicle as collateral could mean a long term commitment to that vehicle. Before you consider using your car as financing, assess the age and condition of the car, and your ability to afford gas and maintenance costs.

Credit Card Balance Transfer

Typically, merchant and rewards credit cards have high interest rates. If you are not paying your balance off in full monthly, you may be paying more in interest than you are earning back in rewards. At Evergreen Credit Union, we offer credit card balance transfers for 5.99% APR for six months, and 9.99% to 16.99% APR thereafter. The less money you pay on interest, the more you can apply to your monthly minimums.

  • No annual fee
  • No over-the-limit fee
  • Minimum monthly payment of $20 or 3% of the outstanding balance

Information accurate as of 4/11/24. Merit based pricing in effect; actual rate may vary based on your credit score and account relationship. Evergreen Credit Union is a full-service financial institution with an environmental focus in Neenah and Appleton, Wisconsin. Membership is open to everyone who lives or works in Outagamie, Waupaca, Waushara, Calumet, or Winnebago counties.