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, providing the perfect solution to replace 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, as a member of the AmeriHome family, you’re eligible for a free mortgage checkup. See how you can start saving today with a Cash-Out Refinance 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 19% – 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.*
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.
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.*
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.
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.
If you’re looking for more ways to make the most of your home’s equity this year, a Cash-Out Refinance can help you to:
Cash-out to reduce credit card debt with high-interest rates.
|Make Home Improvements
Renovations may increase your home value’s market price which can be extremely beneficial if you decide to sell your home in the future.
|Pay For Larger Expenses
Invest in your home with updates that will yield a higher return should you decide to sell in the future.
Your Perfect Home Loan… Designed Just For You!
*By refinancing, your total finance charge could be higher over the life of the loan.