When people are looking for a refinance, they are doing so for many reasons: to buy higher return investments, to finance a new business, to consolidate debts, or to send children to college. Refinancing is becoming an increasingly popular option for homeowners. It’s no wonder – the right refinance product can save you thousands of dollars!
Let’s say you currently have the following mortgage and debt payments:
Monthly Payment
Mortgage* $147,000.00 $1334.00
Car Loan $28,000.00 $768.00
Visa $16,550.00 $535.00
Mastercard $10,334.00 $367.00
_______
Total monthly payment 3004.00
*Based on an interest rate of 5.3% with a 25 year amortization
Then, let’s say you acquired a new mortgage for $201,885 that lumped all of your debt into $1,209 monthly payments. That’s a savings of $1,795 a month.
Now, if you put the difference into a savings vehicle each month for the next five years, you will have an investment of $107,700 in only five years!
We’ve had clients save this and more – contact us today to find out what we can do for you!
We are committed to helping you find the best mortgage financing for your situation.
