Are your monthly debt payments exceeding your monthly income? A debt consolidation refinance can give you some much needed monthly payment relief. Home Equity is at an all time high. Now is a great time to use your equity to payoff other high interest debt and consolidate your debts into one lower monthly payment. Consider the example below:
An average sized home in Utah was worth about $500,000 in 2018 is now worth around $700,000 in 2022. Using a value of $700,000, let's look at an example debt consolidation:
In this example, you would be freeing up $1,268.83 in monthly cash flow by utilizing just a portion of your home's equity. You could also continue to make a house payment of $3,862 per month and payoff your mortgage faster!
Contact us today to receive your own free debt consolidation analysis to see if a debt consolidation loan would be right for you. We look forward to talking with you.