By consolidating the two loans, you could potentially save more than 0 each month and lock in your interest rate rather than watch it escalate if prime goes up.
The Debt Consolidation Mortgage Loan Company has been a leading referral source for fixed rate debt consolidation mortgage refinancing, credit debt settlement, credit card consolidating, second mortgages and hard money loans since 1991. We can accommodate your refinance needs because we provide home loans of different sizes, as well as mortgages for various credit types.
Whether you need debt consolidation refinancing, a 2nd mortgage or credit card refinance loan, we have debt refinancing programs that offer better rate and more options that encourage you to utilize the many benefits of second mortgage lending.
(You may also be interested in ) “Never make a decision to refinance or consolidate loans based only on the reduction in your monthly payment.
In most cases you will spend more over your lifetime on the new loan than you would simply paying off the existing loans,” Fleming says.
“Millions of consumers keep mortgaging their future and ending up with tens or even hundreds of thousands of dollars less in retirement.” Instead, determine how long you think you'll stay in the house, and compare the cost of your current mortgage(s) to the new mortgage plus any costs associated with the new loan throughout the amount of time you will hold the loan.