Refinance to Eliminate Holiday Shopping Debt

Did you have a little too much fun swiping your credit card during the holiday season? Are you stressing over your upcoming credit card statement?!

A refinance with Direct Mortgage Loans may help eliminate your holiday debt. Here are a few reasons why you should consider calling one of our loan officers:

  1. Skip a Mortgage Payment…or Two – When you refinance, your new mortgage payment will be delayed based on the terms of your refinance. While this does not reduce your holiday debt, it does eliminate your mortgage bill for at least one month. Additionally, you may be able to skip a second mortgage payment. Use this opportunity to put your skipped mortgage payment towards reducing your holiday debt.
  1. Use Your Home’s Equity to Pay Off Debts – A cash-out refinance gives you the chance to pay off debts or borrow money against the equity in your home. A licensed appraiser may need to validate the value of your home for our team to determine the maximum amount you could borrow. Just consider the debts you may be able to reduce with this one transaction (i.e. student loan debt, auto loans, etc.)!
  1. Improve Your Mortgage Setup – A refinance could help eliminate debt AND put you in a better financial situation. You may have the ability to shorten the term of your loan, lock in a lower rate, and/or save on monthly payments by eliminating mortgage insurance.

Ready to eliminate your holiday debt and set yourself up for financial success in 2020? Contact our team of loan officers to learn more about your refinance opportunities. 410.878.9730