BB&T Home Equity Affordability Calculator

[Calculator][Definitions]

Use this calculator to compare payment schedules for three BB&T home equity options: a fully amortizing loan, a 1.5% of outstanding balance line of credit and an interest only line of credit.

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Definitions

Gross annual income
Providing this enables us to estimate how much you will be able to borrow assuming a 28% debt-to-income ratio. Include the total of your gross annual wages and other income that can be used to qualify for this home equity loan or line of credit.

Estimated property value
This is the current appraised value of your home. If it has been a few years since you purchased your home, the value of your home may be worth more or less than your original purchase price.

Origination fee
This is a fee charged for processing your home equity loan application. Loan fees will increase the calculated Annual Percentage Rate (APR) for your loan or line.

Term
The number of years you wish to pay on your home equity loan or line of credit. The most common terms are 15 years and 30 years.

Interest rate
The annual percent of interest charged on your home equity loan or line of credit.


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