Did you know that interest savings may be hiding in your mortgage?
When you think of a mortgage loan, you typically think of interest costs. But if you consolidate other debts into your mortgage, you can start thinking of interest savings instead.
Most consumer debt carries a higher interest rate than home financing. If you access cash to pay off some of those debts – even at a slightly higher interest rate than your current mortgage – you can still save on overall interest expenditures.
And if you use your monthly savings to pay extra on your principal each month, you can pay off your mortgage faster and save even more.
Try Our Debt Consolidation Calculator
We have a Debt Consolidation Calculator that you can use to determine how much interest you’re currently paying. In addition, you’ll be able to see how much you can save with a new consolidation loan!
Have Questions About Debt Consolidation?
If you want to talk through your scenario, please reach out to the experts at Greenway Mortgage.
Our team is happy to assist you with any questions you may have!