Debt Consolidation
Want to decrease your monthly payments and increase your monthly cash flow?
Debt consolidation using your home equity can be a smart way of achieving both.
With a refinance mortgage, you can make a strong, positive difference on your family’s financial situation.
Debt Consolidation Can:
- Help increase your credit score
- Offer simplicity of one payment per month
- Help pay down your principal faster
- Make cash available for emergencies
- Reduce personal stress
Below is an example of how this might change your monthly cash flow, and ultimately, the quality of your life.
Before | After |
| House Value $280,000 | House Value $280,000 |
| Mortgage Balance $180,000 | NEW Mortgage balance $240,000 |
| Interest Rate 5.69% | Interest Rate 3.29% |
| Mortgage Payment $1120 | NEW Mortgage Payment $1170 |
| Accumulated Debt Payment ($60,000) $1800 | Debt Payments $0.00 |
| TOTAL Payments $2920 | TOTAL Payments $1170 |
| TOTAL Monthly Savings $1750 |
If you believe debt consolidation is right for you, or to discuss it further, contact me.
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Posted in Blog, Buying A Home