Debt-Consolidation with Cash Out Refinance

Risk-free, No Obligation Estimate:

Of course, every person’s situation is different so your savings may be more or less than in the example above.

Your loan officers will create a Debt Consolidation Worksheet just like the example so you can see exactly what bills you can pay off and how we can reduce your monthly payments.

Debt-Consolidation with Cash Out Refinance

Debt-Consolidation with Cash Out Refinance

“How can I pay off my credit card debt and cut my payments by $200, $400 or even $800 every month?”

Sounds too easy, right?

Well, it is easy to do and for many homeowners it’s a good option to get out of high interest credit card debt, reduce your monthly mortgage payments and finally give you and your family peace of mind. Consolidate your debt with cash-out refinance mortgage.

BEFORE refinancing, client’s monthly bills totaled $3,157
Creditor Monthly Payment
CITI MORTGAGE $1,421
PNC BANK $556
CITI $515
AMEX $465
DISCOVER $100
MATRESS GIANT $60
GOLDEN 1 CU $40
TOTAL $3,157
AFTER refinancing, the same client is saving $799 a month!
Refinanced Loan Program First 15-yr fixed rate mortgage
Loan Amount $284,000
Rate 5.750%
NEW Monthly Payment $2,358
MONTHLY SAVINGS $799

Cash-out Refinance Benefits:

With Meridian Home Mortgage’s Cash Out Refi Program you can use the equity in your home to combine your high interest debt into a new home loan and reduce your total monthly payments.

With our Cash Out Refinance Programs you may be able to:

  • Consolidate your bills into 1 easy to manage monthly payment.
  • Pay off high interest credit card debt with rates as high as 18% or more.
  • Reduce the rate on your current mortgage.
  • Replace your adjustable rate mortgage with a fixed rate mortgage.
  • Increase your tax deductions every year.
  • Get cash out for other purposes