Consolidate any high-interest personal debt into a refinance mortgage, while rates are still close to historic lows. You can put your credit card balances with high interest rates into your newly refinanced mortgage asnd enjoy a low-interest monthly payment.
These mortgages are commonly referred to as a "cash-out" refinance, due to the fact you are taking cash out of your home's equity.
Debt Consolidation Benefits
In many cases, you will be increasing your monthly cash flow. Unlike credit card interest, mortgage interest is typically tax deductible. Speak with your tax advisor to make sure. Moreover, by paying off those growing debts, your credit score can improve too.
1st Nationwide Mortgage has a goal of saving their clients money when it comes to home loans. With our personalized loan options including home equity loans or lines of credit for debt payoff, borrowers can feel confident that they are getting the right mortgage. Let's start working now to find that perfect loan solution for you