Many Americans are facing challenging economic times, and an estimated 80% of Americans have some type of consumer debt that doesn’t include their mortgage. If you need a new way to consolidate debt, you may be able to take advantage of a Cash-Out Refinance by using money from the equity you’ve built in your home to pay off your high-interest debt. Mortgage rates are much lower than other interest rates, thus replacing your high-interest debt with a low-interest home loan. Check out the top 5 types of debt to consolidate with a Cash-Out Refinance.
Plus, you’re eligible for a free mortgage checkup. See how you can start saving today with a better home loan.*
Top 5 Types Of Debt:
Credit Card Debt
If you have credit card debt, you’re not alone. On average, credit card interest rates are 22% – that hurts the pocketbook! With a Cash-Out Refinance, you could save thousands of dollars in credit card interest if you’re only able to pay the minimum payment each month on your credit card bill.*
Medical Bills
Whether you’ve been to the hospital for an accident, pregnancy, or illness, overnight stays and treatments can cost well over five figures. Unpaid debt, including medical, will stay on your credit report for seven years, so it’s important to consolidate your debt as soon as you can.
Student Loans
Going to school can be expensive. If you took out loans to pay for higher education, a Cash-Out Refinance can get you the funds to lower your monthly debt payments and eliminate your student loans forever.*
Auto Loans
Are your monthly car payments too high? Pay off your auto loan sooner with a Cash-Out Refinance and save hundreds of dollars in interest charges.* This way, you can free up your monthly cash flow and use it to pay off other expenses or save it for a rainy day.
Personal Loans
If you’re struggling to pay off your personal loans, a Cash-Out Refinance may be your solution. If you’re unable to make your payments, this could hurt your credit score, lead you further into debt, or make it difficult for you to borrow in the future.
Looking for more savings this year? Let’s upgrade your mortgage and put money back in your wallet with a new Purchase or Refinance Loan.*
5 Money-Saving Tips To Start Today:
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Pay Off Your Loan Sooner Switch to shorter loan terms to save on interest.* |
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Lower Your Monthly Payment Refinance with longer terms, so more money stays in your wallet.* |
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Consolidate Debt Cash-out to reduce high-interest credit card debt. |
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Pay For Larger Expenses Invest in your home with updates that will yield a higher return should you decide to sell in the future. |
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Get Extra Savings After you have financed a home with us once, save up to $750 on all your future refinances and new home purchase loans with your AmeriWallet Benefits.** |
If you are interested in learning more about how a refinance or new home purchase loan can benefit you, just give us a call at 877.715.9908 or get your instant rate quote here.
Imagine The Possibilities With Your Better Home Loan!
*By refinancing, your total finance charge could be higher over the life of the loan.
**As a member of the AmeriHome family, borrowers are part of the AmeriWallet Rewards program. If you completed a home loan with us once, you will qualify for a $750 lender credit for all of your future refinances or home purchases done with AmeriHome, for any property you own. To qualify for this offer, you must have previously financed the purchase of a home or refinanced with AmeriHome. You have financed with AmeriHome when AmeriHome Mortgage Company, LLC appears on the previous Promissory Note for your loan, and you are listed as a borrower on the Note. Credits will be applied only if your loan closes with AmeriHome. This offer can not be combined with any other offers and is not applicable for FHA Streamline, or VA IRRRL Refinance transactions. Other restrictions may apply. Terms and conditions are subject to change. AmeriWallet Rewards program is subject to termination without notice.
