Blog Post

A DEBT CONSOLIDATION MORTGAGE

Rita Cousins Senior Mortgage Advisor • August 12, 2019

The solution to high interest credit payments

What Is a Debt Consolidation Mortgage?

A debt consolidation mortgage is when you refinance your mortgage to incorporate all your high interest debts into one payment – your mortgage!

Debt Consolidation Benefits

  • A much lower monthly interest rate that all your debts will now fall under
  • Lower monthly payments
  • The comfort and convenience of making only one monthly payment.
  • Improved credit score from making all your payments on time.
Here’s an example showing the effect on your monthly payments:

*With mortgage amortized over 20 years

**With the same 20-year amortization and adding $5,000 for an early repayment penalty.
***Rate subject to change

Now all that’s left is to figure out precisely which solution is best for you, and wipe out all those high interest payments. You already have the mortgage, so if you also have some high interest debt you’d love to unload...

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