SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: December 26,1997
ADVANTA Home Equity Loan Trust 1997-3
New York 333-21265 33-0776740
c/o ADVANTA Mortgage Corp., USA
Attn: William P. Garland
16875 West Bernardo Drive
San Diego, Ca 92127
(619) 674-1800
Item 5. Other Events
Information relating to the distributions to Certificate holders
for the November, 1997 Monthly Period of the Trust in respect of
the Home Equity Loan Pass-Through Certificates, Series 1997-3
Class A (the "Certificates") issued by the Registrant and the
performance of the Trust (including distributions of principal
and interest, delinquent balances of Home Equity Loans,
and the Subordinated amount remaining), together with certain other
information relating to the certificates, is contained in the
Monthly Report for the Monthly Period provided to certificateholders
pursuant to the Pooling and Servicing Agreement (the "Agreement")
dated as of September 1, 1997 between ADVANTA Mortgage Corp.,
USA as Servicer, and Bankers Trust Company, as Trustee.
Item 7. Financial Statements, Exhibits
Exhibit No. Exhibit
1. Monthly Report for the November, 1997 Monthly Period
relating to the Home Equity Loan Pass-Through
Certificates Series 1997-3, Class A issued by the
ADVANTA Home Equity Loan Trust 1997-3.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the November, 1997 Monthly
Period relating to the Home Equity Loan Pass-Through
Certificates, Series 1997-3, Class A issued by the
ADVANTA Home Equity Loan Trust 1997-3.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
ADVANTA Home Equity Loan Trust 1997-3
BY: ADVANTA Mortgage Corp., USA
BY: /s/ William P. Garland
William P. Garland
Senior Vice President
Loan Service Administration
December 29, 1997
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1997-3
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
A-1 147,390,000. 138,531,968. 689,2 6,167,522 6,856,728.16
A-2 68,375,000 68,375,000 376,6 376,632.29
A-3 37,587,000 37,587,000 209,5 209,547.52
A-4 23,612,000 23,612,000 135,1 135,178.70
A-5 19,000,000 19,000,000 110,3 110,358.33
A-6 33,411,000 33,411,000 203,2 203,250.25
A-7 42,500,000 42,500,000 245,0 245,083.33
A-8 110,000,000. 106,274,722. 535,8 2,217,592 2,753,464.67
A-9 365,000,000. 357,866,289. 1,823,55 4,246,564 6,070,116.79
A-IO 42,500,000 42,500,000 177,0 177,083.33
B-1 12,750,000 12,750,000 82,0 82,025.00
M-1 14,875,000 14,875,000 89,2 89,250.00
M-2 25,500,000 25,500,000 156,6 156,612.50
R -
Totals 942,500,000. 922,782,979. 4,833,65 12,631,678. 17,465,330.87
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A-1 132,364,446. 5.777500% 6.058750%
A-2 68,375,000 6.610000% 6.610000%
A-3 37,587,000 6.690000% 6.690000%
A-4 23,612,000 6.870000% 6.870000%
A-5 19,000,000 6.970000% 6.970000%
A-6 33,411,000 7.300000% 7.300000%
A-7 42,500,000 6.920000% 6.920000%
A-8 104,057,130. 5.817500% 6.098750%
A-9 353,619,724. 5.917500% 6.198750%
A-IO 5.000000% 5.000000%
B-1 12,750,000 7.720000% 7.720000%
M-1 14,875,000 7.200000% 7.200000%
M-2 25,500,000 7.370000% 7.370000%
R 0.000000% 0.000000%
Totals 867,651,301.61
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A-1 00755WDP8 939.900726 4.676071 41.844915 46.520986 898.055811
A-2 00755WDQ6 1000 5.508333 0 5.508333 1000
A-3 00755WDR4 1000 5.575 0 5.575 1000
A-4 00755WDS2 1000 5.725 0 5.725 1000
A-5 00755WDT0 1000 5.808333 0 5.808333 1000
A-6 00755WDU7 1000 6.083333 0 6.083333 1000
A-7 00755WDV5 1000 5.766667 0 5.766667 1000
A-8 00755WDW3 966.133843 4.87157 20.159927 25.031497 945.973915
A-9 00755WDX1 980.455587 4.996034 11.634423 16.630457 968.821164
A-IO 00755WEB8 1000 4.166667 0 4.166667 0
B-1 00755WEA0 1000 6.433333 0 6.433333 1000
M-1 00755WDY9 1000 6 0 6 1000
M-2 00755WDZ6 1000 6.141667 0 6.141667 1000
R AM9703114 0 0 0 0 0
</TABLE>
<TABLE>
Delinquent Loan Information:
<CAPTION>
90+ Days Loans Loans
30-59 60-89 excldg f/c,REO in in
Days Days & Bkrptcy REO Foreclosure
<S> <C> <C> <C> <C> <C>
Group 1 Principal Balanc 10,336,030 3,153,94 839,86 632,63
% of Pool Balanc 2.49821% 0.76231% 0.20299% 0.00000% 0.15291%
Number of Loans 207 61 21 0 15
% of Loans 2.67304% 0.78771% 0.27118% 0.00000% 0.19370%
Group 2 Principal Balanc 10,501,760 4,970,36 553,64 1,859,051
% of Pool Balanc 2.27164% 1.07514% 0.11976% 0.00000% 0.40213%
Number of Loans 109 63 5 0 20
% of Loans 2.25486% 1.30327% 0.10343% 0.00000% 0.41374%
Loans in Bankrup Group 1 899,468.96
Group 2 908,136.98
1,807,605.94
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Beginning Aggregate Mortgage Loan Balance 418,668,710. 467,259,251. 885,927,962.
Principal Reduction 4,931,876 4,959,64 9,891,521
Ending Aggregate Mortgage Loan Balance 413,736,834. 462,299,606. 876,036,440.
Beginning Aggregate Mortgage Loan Count 7834 4883 12717
Ending Aggregate Mortgage Loan Count 7744 4834 12578
Current Weighted Average Coupon Rate 11.121133% 10.528565% 10.808599%
Next Weighted Average Coupon Rate 11.111378% 10.528952% 10.804022%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Scheduled Principal 618,15 240,3 858,47
Curtailments
Prepayments 4,313,725 4,719,19 9,032,923
Repurchases/Substitutions
Liquidation Proceeds
Other Principal
Less: Realized Losses
Less: Delinquent Principal not Advanced by Servicer
Total Principal Reduction 4,931,876 4,959,64 9,891,521
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Accrued Servicing Fee for the Current Period 137,73 162,0 299,81
Less: Amounts to Cover Interest Shortfalls 2,4 3,0
Less: Delinquent Service Fees 36,7 32,6 69,3
Collected Servicing Fees for Current Period: 98,5 128,8 227,42
Advanced Principal 73,2 12,6 85,8
Advanced Interest 829,81 695,5 1,525,402
</TABLE>
<TABLE>
<CAPTION>
Other Subordination
Prepayment Unscheduled Increase Applied Realized Loss Unpaid
Principal Principal Principal Realized Loss Amortization Realized Loss
Class Distributed Distributed Distributed Amount Amount Amount
<S> <C> <C> <C> <C> <C> <C>
A-1 4,313,72 1,235,64
A-2
A-3
A-4
A-5
A-6
A-7
A-8 1,092,86 348,4
A-9 3,626,33 1,156,09
A-IO
B-1
M-1
M-2
R
Total 9,032,92 2,740,15
</TABLE>
<TABLE>
<CAPTION>
Prior Current Target
Has a Senior Overcolla- Extra Overcolla- Overcolla-
Trigger Even Enhancement Teralization Principal Teralization Teralization
Occurred Percentage Amount Distributed Amount Amount
<S> <S> <C> <C> <C> <C> <C>
Group I No 13.749655% 2,526,74 1,235,645 3,762,38 10,625,000.
Group II No N/A 3,118,23 1,504,511 4,622,75 15,437,500.
Total 5,644,98 2,740,156 8,385,13 26,062,500.
</TABLE>
<TABLE>
MISCELLANEOUS INFORMATION:
<CAPTION>
<S> <C>
Class A-IO Notional Balance 42,500,000.00
Group II Insured Payment Included in amounts Distributed -
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 6,384,980.60
Principal Collected: 9,805,650.11
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 1,525,402.17
Delinquency Advances on Mortgage Principal 85,871.40
Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 15,473.84
Capitalized Interest Requirement: -
Pre-Funding Account: N/A
Sum of the Above Amounts: 17,817,378.12
LESS:
Servicing Fees (including PPIS): 299,819.67
Dealer Reserve: -
Trustee Fees: 6,459.89
Insurance Premiums: 45,767.69
Reimbursement of Delinquency Advances: -
Reimbursements of Servicing Advances: -
Total Reductions to Available Funds Amount: 352,047.25
Total Available Funds: 17,465,330.
</TABLE>
