Over 70% of our mortgage applications are about consolidating debt. Using the equity in your home to consolidate debt is quite common these days. It is not always because people are in debt, but more often, because it just makes sense. Credit cards at 22% interest a month, high-interest loans as high as 12, 15, 19 even 24%, lines of credit at 9%, car loans at 8% or more.
Today, it makes sense to refinance these debts into your existing mortgage and remove the heavy debt load from yourself each month. Minimize Debt, Maximize Life.
We also understand that life circumstances can put a person in debt which is out of their control. An illness, loss of a job, a family emergency, and a wide range of other events can all impact your debt repayment.
The advantage of a debt consolidation refinance* is that it not only makes paying your existing debt more manageable, it also reduces the amount of interest you would have paid if you had not consolidated debts.
- Lower interest rate – much lower than credit card and consumer loan rates
- Consolidated payment – make one single payment to your debt consolidation mortgage
- Pay off debts sooner
- Lower monthly payments to improve your cash flow
- Free up cash flow to allow you to increase your monthly payments and pay our mortgage off sooner.
We work for you, not the lender. We will ensure the lenders compete for your business, so you can pay off your debts and improve your financial situation.
Contact one of our Mortgage Agents today and let us do the leg work for you.
* To take advantage of this program, you must be a home owner and have at least 20% equity in your home