Why Homeowners Should Consider a Cash Out Debt Consolidation Refinance

It's been a crazy few years for so many of us. If your finances have taken you on a roller coaster ride, too, you are probably looking to get those bills (and their awful interest rates) under control.

Imagine how paying off those credit cards and personal loans would feel. Imagine never again having to look at that huge credit card statement and cringe at how much money you're throwing away in interest payments each month.

If you're a homeowner, a cash-out debt consolidation refinance loan could be a great solution, according to Shelvin Dean of St. Cloud Mortgage. Depending on your circumstances, it could lower your overall monthly payment, reduce the total amount of interest you pay, and combine all your debt payments into one easy-to-manage monthly payment.

The math isn't always intuitive, but even if you have a low mortgage interest rate now, it's possible to refinance with a cash-out debt consolidation loan with a higher interest rate and still be paying less interest overall when you factor in the high interest rates associated with credit card debt and personal loans. Click here for a calculator that can show you the impact of various interest rates and blended rates.

Of course, Dean can help you crunch the numbers to see what rates you could receive and decide if refinancing now makes sense for your financial situation.

"As your local lending expert, I am fully committed to earning your confidence and providing peace of mind," Dean said. "I am dedicated to working hand in hand with each and every person I work with, to tailor the best possible financial solutions combined with the lowest rates and minimal closing costs to fit your specific scenario."

Overall, a cash-out debt consolidation refinance loan could free you from the headaches that come with juggling bills, freeing up your time and energy to pursue your other long-term goals. To learn more about the process and whether it could help your financial situation, connect with Dean at stcmortgage.com/debt-consolidation-refinancing or by calling (320) 266-4973.