Home Equity & Debt

Accelerated Debt Payoff

Consolidating your debt is only half of the battle. You still need a plan to get your debt paid in full. This calculator can show you how to accelerate your debt payoff. The process is simple, just apply a portion of your consolidated loan’s monthly payment savings to the consolidated loan’s balance. You can save hundreds, even thousands in interest and shave years off of your loan! This calculator can help those in Calgary, Edmonton, and throughout Canada!This Financial Calculator requires a Browser with Java(TM) applet Support. If you are seeing this message you will need to download SUN’s Java(TM) Plug-in. This can be done simply, and automatically, by clicking the link below:Get the Java(TM) Plug-in!

Calculate  View ReportGlossary of Terms

Glossary of Terms

Credit cards: Enter a total credit card debt and an average interest rate, or
press the “enter data” button to enter up to 10 credit card accounts, one on each line.

Auto loans: Click on the “enter data” button to enter any auto loans you may have.
The data page is designed to let you enter your current monthly payment, the term (in months), the
starting balance and the number of months you have left. It then calculates your outstanding balance
and interest rate. You can enter up to three installment loans.

Other loans: Click on the “enter data” button to enter any additional installment
loans you may have. The data page is designed to let you enter your current monthly payment, the term
(in months), the starting balance and the number of months you have left. It then calculates your
outstanding balance and interest rate. You can enter up to six installment loans.

Other loans: Click on the “enter data” button to enter any additional installment
loans you may have. The data page is designed to let you enter your current monthly payment, the term
(in months), the starting balance and the number of months you have left. It then calculates your
outstanding balance and interest rate. You can enter up to six installment loans.

Balances: Your total current balances for your credit cards, auto loans and other
loans.

Interest Rates: The average annual percentage rate you pay. This interest rate is
calculated for each of the categories of debt you have including credit cards, auto loans and other
installment loans. For credit cards the rate you enter is used to calculate the interest on all future
credit card payments. The length of time to payoff this credit card may be much greater than calculated
if you enter a low promotional interest rate that is only good for a short period of time. NOTE: This
calculator compounds all interest monthly.

Payment: This is your monthly payment. For credit cards your default monthly payment
is calculated as 2% of your current outstanding balance. This amount can be adjusted to reflect a
realistic monthly payment.

Loan Balance: This is the amount of your new consolidated loan. Your loan balance
will default to the total outstanding balances for your existing credit cards, auto loans and
installment loans. You can adjust this amount higher or lower. Making changes to the default may
result in paying more (or less) interest along with a change in your monthly payment.

Personal Debt Consolidation

Should you consolidate your debt? This calculator is designed to help determine if debt consolidation is right for you. Enter your credit cards, auto loans and other installment loans balances. Change the loan amount, term or rate to create a loan that will work within your budget. This calculator can help those in Calgary, Edmonton, and throughout Canada!
This Financial Calculator requires a Browser with Java(TM) applet Support. If you are seeing this message you will need to download SUN’s Java(TM) Plug-in. This can be done simply, and automatically, by clicking the link below:Get the Java(TM) Plug-in!

Calculate  View ReportGlossary of Terms

Glossary of Terms

Credit cards
Enter a total credit card debt and an average interest rate, or press the “enter data” button to
enter up to 10 credit card accounts, one on each line.

Auto loans
Click on the “enter data” button to enter any auto loans you may have. The data page is designed
to let you enter your current monthly payment, the term (in months), the starting balance and the
number of months you have left. It then calculates your outstanding balance and interest rate. You
can enter up to three installment loans.

Other loans
Click on the “enter data” button to enter any additional installment loans you may have. The data
page is designed to let you enter your current monthly payment, the term (in months), the starting
balance and the number of months you have left. It then calculates your outstanding balance and
interest rate. You can enter up to six installment loans.

Balances
Your total current balances for your credit cards, auto loans and other loans.

Interest rates
The average annual percentage rate you pay. This interest rate is calculated for each of the
categories of debt you have including credit cards, auto loans and other installment loans. For
credit cards the rate you enter is used to calculate the interest on all future credit card payments.
The length of time to pay off this credit card may be much greater than calculated if you enter a low
promotional interest rate that is only good for a short period of time. NOTE: This calculator compounds
all interest monthly.

Payment
This is your monthly payment. For credit cards your default monthly payment is calculated as 2%
of your current outstanding balance. This amount can be adjusted to reflect a realistic monthly payment.

Loan balance
This is the amount of your new consolidated loan. Your loan balance will default to the total
outstanding balances for your existing credit cards, auto loans and installment loans. You can adjust
this amount higher or lower. Making changes to the default may result in paying more (or less) interest
along with a change in your monthly payment.

Credit Line Calculator

Use this calculator to determine how big a line of credit you may qualify for. The line of credit is based on a percentage of the value of your home. The more your home is worth, the larger the line of credit. Of course, the final line of credit you receive will take into account any outstanding mortgages you might have. This includes first mortgages, second mortgages, and any other debt you have secured by your home. This calculator can help those in Calgary, Edmonton, and throughout Canada!
This Financial Calculator requires a Browser with Java(TM) applet Support. If you are seeing this message you will need to download SUN’s Java(TM) Plug-in. This can be done simply, and automatically, by clicking the link below:Get the Java(TM) Plug-in!

Calculate  View ReportGlossary of Terms

Glossary of Terms

Appraised value of your home
This is current appraised value of your home. If it has been a few years since you purchased
your home, it may be worth quite a bit more than your original purchase price.

Mortgages you owe
This is the total of all outstanding mortgages on your home. This should include your
first mortgage, second mortgages and any other debt that is secured by your home.

Loan to value ratio
The loan to value ratio is the percent of your home’s appraised value that your lender
will allow. For example, a 75% loan to value ratio would allow you to have $75,000 in debt
secured by a home appraised at $100,000. Remember – the total debt allowed includes all
outstanding mortgages plus your new line of credit.

Dominion Lending Centres Westcor 114 1212 1st ST. SE, Calgary, Alberta. Phone: 403-228-7800. .