Consolidate debt by Refinancing Your Mortgage
When monthly bills get out of control, debtors frequently look to consolidate that debt by using the equity in their home. This is referred to as a Cash-Out Refinance.
The average credit card interest rate has risen to an all time high of 15.59%. The average mortgage interest rate is 4%.
How do I apply for a Cash-Out Refinance?
The first step in refinancing your home is to reach out to one of our Refinance Specialists. They can answer your questions and show you how consolidation can save your hard earned money from going toward high interest loans.
If you have multiple high interest rate loans, paying them off using the equity in your home can save you thousands of dollars over time. The interest on your credit card accrues monthly based on your account balance. That is why paying them off is so difficult.
It is also much more efficient to pay just ONE bill a month versus keeping track of several balances and trying to make timely payments on all of them.
The other benefit is that lowering your credit card debt can INCREASE your credit scores over a short time.
Using a Credit Simulator tool, your Loan Officer will be able to tell you what your score could be after closing those credit cards.
Apply to start saving money by taking advantage of this Refinance option while rates are still at historic lows!