Debt Consolidation Loans
Lenders Nationwide has debt consolidation loan options for borrower’s seeking fixed rate debt consolidation. Consider using your home equity for a prime rate payment reduction, cash out, debt consolidation or simply accessing additional cash. Refinance loans can be a valuable tool for many purposes. Get a traditional home equity loan refinance or consider a cashing in on your home’s equity through a 1st mortgage refinance while the interest rates are still below seven percent nationally.
Find a Local Broker or Mortgage Lender in your neighborhood! Search for lenders and shop interest rates with the top home mortgage lenders online. Get free quotes for a home equity refinance and consider our unique programs for bad credit, rate and term, debt consolidation and cash out.
- Debt Consolidation Loans with No Equity
- Mortgage Loan Consolidation for Homeowners!
- 2nd Mortgages for Credit Card Consolidation
Most borrowers have more debt beyond their mortgage. Most homeowners also have a car payment and three or four additional credit cards with balances that on average total nearly $20,000. Are you one of those homeowners that has high interest credit cards or adjustable rate loans? Usually the best way to eliminate the debt is debt consolidation through a mortgage refinance or home equity loan.
Homeowners can qualify for a debt consolidation loan that offers reduced interest and a positive monthly saving. Debt consolidation loans allow you to consolidate all of your high interest credit cards, as well as your auto and student loans and wrap them into a more affordable monthly payment at a reduced simple interest rate.
Consolidate debt with a 2nd mortgage or equity loan and utilize the security of your home. Unless you plan to go the route of a bankruptcy, second mortgages are usually the best path for consolidating debt if you already have a favorable interest rate on your 1 st mortgage. Most likely you will be able to save a few hundred dollars each month, because the single monthly payment gets rid of the compounding interest and replaces it with a fixed rate 2nd mortgage.
In most cases, if you add a 2nd mortgage for debt consolidation and the total does not exceed the appraised value of your property, the 2nd mortgage interest you pay will be fully deductible. We suggest that you speak with your tax consultant for complete tax advice.