Should I Refinance to Pay Credit Card Debt?
I want to Get Rid of Credit Card Debt. Should I Refinance?
If you are fortunate enough to have equity in your home’ it might be a prudent move to refinance and get rid of all the consumer debt you have on those high interest rate credit cards. After all, refinance rates are at an all time low. Why not take advantage of low interest rates.
Consider that the average interest rate on a credit card is 14.30% and often times MUCH higher, where as the home refinance rates are in the low 3% range. What a big difference and a huge savings.
The smart strategy is to refinance and pay off your consumer debts then make extra payments on your mortgage to pay down your mortgage quicker. So, instead of giving your hard earned money to the credit card companies, pay down your mortgage quicker and get rid of that consumer debt.
LendPlus Financial has a team of seasoned, mortgage loan refinance specialist to serve you. Our rates are incredible and we are a direct lender. No middlemen. We can run some calculations and provide a free assessment to determine how much savings we can help you achieve.
Give us a call, today!