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48 Meriden Rd, Suite 1, Middlefield, CT 06455
844.788.7237
info@northeast-mortgage.com

Credit Card Debt Refinance Options in Connecticut

Connecticut

Credit Card Debt Refinance

If you are a Connecticut Home Owner and have too much credit card debt – then an option is to refinance your home and pay off that debt with a new mortgage.  A Credit Card Debt Refinance can be an easy process if you already have equity in your property.

 

Refinancing Your Home

 

Mortgage interest rates are still low so it may be a good idea to refinance in order to reduce your monthly payment. The money you save can be used to pay off other debts such as credit cards or student loans.

 

Cash-out Refinancing

 

If you have enough equity in your home, you may be able to substantially reduce your monthly payments on credit cards, student loans, medical expenses and personal loans.

 

Sometimes, these loans are known as “cash-out” refinancing. That’s because you are cashing out of your home’s equity to use for other things. How this works is that you take out a new, larger mortgage that pays off your old mortgage and leaves you with extra money at closing to pay off your debts. When consolidating debt, you must remember that it isn’t gone, it’s now in a different place. You’ll owe only your primary mortgage lender instead of owing a number of third-party lenders and credit card companies.

 

Is a Debt Consolidation Loan Right for Me?

 

When exploring these options, you have to remember to be disciplined in your spending and not run up your credit card debt again. If your debt continues to grow, you might find yourself in a pickle again and at that point, you may have no more equity left to bail you out.

 

Being in debt is not a fun place to be and we more than happy to help you come up with a mortgage plan to get you out of debt.  Call today for a free consultation and to see if a Credit Card Debt Refinance Options is right for you.

 

Thank you,

 

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Michael Meyer
Senior Vice President of Northeast Financial
NMLS#117875
Mike@northeast-mortgage.com
860-876-0572
210 S. Main St Middletown, CT 06457

 

Company NMLS#117273

 

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General Disclosure

When discussing programs that allow for 3.5% down, 0% down, or a percentage down – the borrower is not required to only put that exact percentage down. FHA, USDA, VA, CHFA, Jumbo, and Conventional Mortgages allow borrowers to put down more of a percentage if they desire to. The percentages mentioned in the information provided is the minimum down payment that these programs require. Each one of these programs have specific credit score, debt-to-income ratio, and payment history requirements to qualify for the minimum down payment.

Disclaimer

Northeast Financial is presently in the process of applying for their Mortgage Broker’s license in the state of New York.  Website authorization by the New York State Department of Financial Services is pending.  Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. If you are a New York Resident – please do not submit any information through our website.

 

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