Time For Summer Savings with Debt Consolidation

Time For Summer Savings with Debt Consolidation

“It’s summertime and the livin’ is easy…”

Or so the song goes… One thing that is true, however, is the fact that it’s summertime and that means it’s also the perfect time to reassess your financial situation before the fall/back-to-school routine kicks back in. Perhaps you extended yourself a little bit in order to make summer vacation a reality. Perhaps it’s just time to get your financial house in order. Either way, debt consolidation through refinancing is a great way to save money by rolling all your other high-interest debts such as credit cards into one simple monthly payment, potentially saving you thousands of dollars.

Your Home Is Where The Help Is

Many homeowners don’t fully understand the power they have in the equity in their home. With enough equity in the home, homeowners can refinance, perhaps even at a lower interest rate, and use a handy debt consolidation loan to roll all necessary debt into one payment. There are many benefits to a debt consolidation loan. Not only do you spare yourself the headache of multiple high-interest debts (which means you’ll pay less in overall total interest while helping to improve your credit score), but with a debt consolidation loan, you have the convenience of only having to pay one lender.

In addition, if you haven’t noticed, nearly 10 percentage points separate today’s average 30-year-fixed-rate home loan  interest rate and today’s average credit card interest rate. That’s nearly a 10% reduction in your interest rate just by moving the debt.

MiLEND Can Help

Because your home is easily the largest purchase you’ll ever make in your lifetime, MiLEND understands how important it is that you receive the right information so that you can make a decision you can feel confident about. At MiLEND, refinancing is a specialty, and they have plenty of options that can help you save money, and possibly improve your credit standing. Whether it’s a no-closing-cost loan, temporary ARM loan, 20-year fixed rate loan, or any of their other convenient loan options, Contact MiLEND today and see how their helpful and knowledgeable staff of friendly loan experts can help!