Debt Basics

Debt Basics
Debt Solutions - No Home Needed

Yes       No


E-LOAN’s motto is “Radically Simple”.  Dedicated to providing customers with a wide variety of lending options and solutions, e-Loan strives to reduce paperwork, provide excellent and personalized customer service, adheres to strict privacy policies and boasts no hidden costs for customers.

Since its inception in 1997, E-Loan has championed the cause of protecting the privacy of their customers.  Including lobbying congress, E-Loan has helped change consumer privacy laws for the better.  E-LOAN has been rated among the top 20 most trusted companies for privacy in America.  The Customer Respect Group has also awarded E-Loan their highest rating in an “Online Customer Respect Study.”

Whatever your needs and financial position, E-Loan has a lending product or service to suit your needs.  Since its beginning in 1997, E-Loan has originated more than $27 billion in consumer loans.  E-Loan has several lending options that can be used for the purpose of debt consolidation—even if you don’t own a home!  Below are the features and benefits of loans that can be used for debt consolidation:

Unsecured Personal Loans

  • Borrow up to $25,000
  • Home ownership not required
  • Rates vary by credit profile
  • No minimum loan amount

Consolidate your debt and lower your monthly payments now >>

Home Equity Loans
A home equity loan enables you to borrow money in a lump sum against the equity (the value of your home, less what you owe) you have acquired up in your home. This loan is second to the existing first mortgage. Buyers commonly use a second mortgage to keep their first mortgage in the conforming range (which keeps the rate lower) and to avoid PMI. Home equity loans are often used to pay off credit card debt, buy a car or to make major renovations to a home. There are three types of home equity loans available through E-Loan, and each share the following criteria:

  • Borrow up to $250,000
  • Lower rates than unsecured personal loans
  • Rates as low as 7.250 % APR
  • Minimum loan amount $10,000

Home Equity Line of Credit (HELOC)

  • Flexible and available when you need it;
  • Great for consolidating high interest debts;
  • Tax deductible interest;
  • Only pay interest on what you use.

Home Equity Loan (Second Mortgage)

  • Have access to additional cash, while maintaining your current mortgage terms;
  • Tax deductible interest;
  • Cash in as little as 12 days;
  • No lender fees or prepayment penalties.

125% Home Loan

  • Borrow more than your home is worth;
  • No lender or appraisal fees;
  • Use to consolidate debt, make home improvements, educational tuition, and so forth.

Consolidate your debt and lower your monthly payments now >>

* Debt Basics is not a lender or broker. We provide information and research on debt help and debt consolidation. Product and service offerings differ by state.