From Overwhelmed
How Debt Consolidating Refinance can Change Your Life
Take back control of your finances by simplifying and streamline your existing debt obligations. Instead of trying to juggle your finances while keeping track of when multiple payments are due and how much needs to be paid for each, consolidate everything into one easy to manage monthly payment.
By paying off high interest credit cards that are maxed out. Also by lowering your monthly payment it will be easier to manage which will help insure that you make payments on time. No more late payments being reported to the credit bureaus.
With a new lower blended rate you can lower the total interest that you are paying on your combined monthly debt obligations and start saving BIG! A blended rate is the average interest rate of a new loan and your old loan. This calculation can take place when a borrower receives a new additional loan even when the previous loan is not yet fully paid off.
This blended rate calculator will help you determine the average blended interest rate of multiple mortgages, debts, loans, or any other amortizations you might have.
Learn what blended rate is, how to calculate blended rate, and some applications of blended rates.
To determine if now is the right time for debt consolidation refinancing, consider the following:
Blended Interest Rates: A new combined interest or blended rate lowers the total interest you are currently paying on existing debts.
Financial Situation: Do you have a stable income and the ability to make timely payments?
Equity in Your Home: Do you have enough equity in your home to qualify for a refinance?
At St. Cloud Mortgage, we understand that every financial situation is unique. Our experienced team can help you assess your options and determine if debt consolidation refinancing is right for you. Contact us today to schedule a consultation.
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606 25th Ave S Suite 101, St Cloud, MN 56301