It can put you, co-borrowers and other people who guarantee your loan, at increased financial risk.Back to top If you want to include all your debts in your home loan it will probably be cheaper to extend the length of your current mortgage than to refinance.Refinancing means you get a new loan to pay out an existing loan.Consolidating is a type of refinancing that usually means getting a new loan to pay out a number of other loans.Our sales representatives have all your information at their fingertips, with an easy application we can extend your term and add additional equipment to your original contract!
Avoid debt consolidation companies as they usually charge exorbitant fees.
And because refinancing can cost 3% to 6% of the loan's principal and – like taking out the original mortgage –requires appraisal, title search and application fees, it's important for a homeowner to determine whether his or her reason for refinancing offers a true benefit.
One of the best reasons to refinance is to lower the interest rate on your existing loan.
By consolidating several student loans, people are able to combine their loans into a single monthly payment, with a single interest rate, on a single term.
Combining student loans doesn’t just simplify the payment process – it makes it easier to maintain control over the financial future.