Refinance your mortgage to pay off:
It's a cash out refinance to pay off debt. Debt consolidation refinance rates are typically lower than rates for credit cards or personal loans.
Wondering how much cash you can pull from your home? Our Debt Consolidation Refi Professionals walk you through the options.
Our Debt Consolidation Refinance Professional stays with you throughout the journey, on call to answer your questions throughout the process. Call 888-966-9044 or sign up to start now!
Your credit history influences how much you can borrow. If you have credit dings, your cash-out limit may be lower. Call 888-966-9044 to talk to a Debt Consolidation Refinance Professional about how the rules apply in your specific situation.
They're typically a bit higher. The interest rate you pay can also be influenced by how much equity you cash out of your home. 15-year fixed rates are usually lower than 30-year fixed rates.
Our refinance professionals can give you an exact answer, or you can use our debt consolidation calculator to get a rough estimate.
In general, when you refinance to pay off credit card debt or other high-cost debts, your monthly payment goes down. Depending on whether you stick with your current mortgage payoff date or go for a longer term, you may be making those payments longer.2
Want to pay off your mortgage faster? Our Refinance Professionals can show you how fast you’ll pay off your home loan if you apply some of your monthly savings toward your principal each month.
Our prepayment calculator shows you the savings.
We offer mortgages to people in a big credit spectrum.
VA and FHA don't have official minimum credit scores. We consider your whole credit picture and not just your credit score.
Made a credit "oops?" Talk to a refinance specialist -- we may still be able to help you. Call 888-966-9044 or sign up to start now!
When you use the equity in your home to pay off debt, you can choose the same or different loan terms. Pick a shorter, a similar, or a longer payoff date.
For example, if you have 20 years left to go on your 30-year mortgage, you can go with a 20-year mortgage, speed up your payoff with a 15-year loan term, or extend the life of the loan back out to 30 years to get the lowest possible monthly payment.3
Want to see what your payments would be for different home loans? Our Refinance Professionals can show you. Call 888-966-9044 or sign up to start now!
When you refinance and consolidate debt, you may be able to finance your closing costs or pay a higher interest rate and get a credit to cover them.
The biggest difference: With a refinance you get the money to pay off or pay down your existing debt (instead of bringing money to the closing table, like you did when you bought a home). Your payout will come four business days after you close (because you get three days to change your mind and unwind any home loan refinance).
You typically won't have to pay for home inspections other than possibly a termite inspection if you go with a VA cash out refinance and termites live in your part of the country (Alaskans, you're off the hook).
Other than that, the home loan process is pretty much the same.
1,2,3 A debt consolidation refinance increases your mortgage debt, reduces equity, and extends the term on shorter-term debt and secures such debts with your home. The relative benefits you receive from debt consolidation will vary depending on your individual circumstances. You should consider that a debt consolidation loan may increase the total number of monthly payments and the total amount paid over the term of the loan. To enjoy the benefits of a debt consolidation loan, you should not carry new credit card or high interest rate debt.
THIS PRODUCT OR SERVICE HAS NOT BEEN APPROVED OR ENDORSED BY ANY GOVERNMENTAL AGENCY. THIS OFFER IS NOT BEING MADE BY AN AGENCY OF THE US GOVERNMENT.