It’s our business to get you the best mortgage
What Can You Consolidate?
Debt consolidation loans use your homes equity to pay off high-interest debt such as credit cards, personal loans, and lines of credit. Property tax arrears and Income taxes are something that Debt Consolidation loans are often used to pay as well.
Reduce Payments & Lower Interest
Accessing your equity to reduce your interest and lower your payments means that your debts will be paid faster and that those savings is in your pocket, not the banks. Although making the minimum payment means your not behind, you certainly can’t get ahead. Consolidating ensures that pay more principle, increase your cashflow, and gives you better options for the future.
Improve Your Credit
Lowering your monthly payments is one half of improving and maintaining a good credit score. How you utilize your credit is the other. If your debt exceeds 50% of the credit limit, you’re at risk of damaging your credit score. Equity loans help to eliminate that debt burden and strategically don’t report on your credit bureau. This allows for you to rebuild that score, reestablish good spending habits, and pay off your loan much quicker.
What Are the Options?
There are many great choices for how to consolidate.
- Home Equity Loans & Second mortgages
- Home Equity Lines of Credit
- Refinancing
These 3 options are the primary ways you’ll be able to consolidate. Exploring all 3 is critical for finding the best option. By having these available to you there is a solution regardless of your current situation or credit score.
ARE YOU HAVING ANY PROBLEMS BUT CAN’T CONSULT TO ANYONE?
let’s talk