Do you find yourself running out of money every month just trying to keep up with your bills?
Here's an example of how you could use the equity in your home to consolidate your debts, lower your interest costs and free up extra cash.
- Your home is valued at $200,000,
- You have a 1st Mortgage for $120,000 with payments of $700/mth
- Your other debts of $40,000 include;
- Car Loan for $15,000 @ 8% with payments of $350/mth.
- Credit card debts of $15,000 with payments of $450/mth.
- Personal Line of Credit for $10,000 - payments of $300/mth.
Above monthly payments total $1800!
If you increased your mortgage by $40,000 to consolidate debts, your new mortgage of $160,000 on a 5 year term rate at 5% amortized over 25 years would have payments $931/mth.
That's a savings of $869 every month!
It's very easy to start the process - you have the choice of:
- Calling us at (519) 433-5013
- Send us a message via our contact form
- Completing our secure on line application - apply here.
Be Mortgage Wise……Call The Mortgage Guys!