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Looking for a Debt Consolidation Mortgage Loan?

If you have outstanding loans at high rates, and if you also have some home equity, you might be considering the idea of paying off those other bills with a single, lower rate and payment. If you qualify this can be a smart financial move.

Paying Off High-Rate Debts with a Low-Rate Mortgage

Depending on your credit history, employment status, income, current mortgage loan balance and your property value, you may be able to refinance your current loans and take cash out to pay off some or all of your other bills. While you would be stretching out the repayment period for shorter-term obligations, chances are the interest rate and monthly payments on the new, larger mortgage would be less than your current mortgage payment plus payments on the other bills. This is especially true if the other bills include credit cards, which tend to carry high interest rates.

Can You Qualify for a Loan For Consolidation?

Qualifying for a refinance loans, with cash out to pay off other bills, is just like qualifying for a mortgage for any other purpose. This involves making an application, allowing us to check your credit history, employment, income and financial assets, and getting an appraisal on your home.

To find out if you qualify and whether you could benefit, call us, or fill out our online application form. Then we can work through the numbers with you and determine if it is worthwhile for you to refinance.

Current Rates for Debt Consolidation Mortgage Loans

User our mortgage quote engine (at left) to get a current quote for a refinance loan that you may use to consolidate debts. For the Loan Purpose, enter "Refinance - cash out."