While home loans can put you in serious debt if you don't use them properly, there are a number of ways you can use them to work to your advantage. While this is a common method that is used to lower monthly payments, there are also some risks involved. Home loans are good because they can allow you to combine your credit cards and other loans into one monthly payment that may be lower. The interest rate may also be lowered as well. At the same time, this may not always be the case, and some people use their home loans for consolidation only to find that the interest rate is higher. It is important to do your research to make sure you bills will be lower once you've consolidated your debt.