Credit Consolidator Refi

Hello,

Managing multiple debts is tough - a low-interest mortgage, high-interest credit card debt, and student loans. It's overwhelming and can create a significant financial burden.

Your 3.25% fixed-rate mortgage is an excellent deal. However, your credit card debt of $150,000 at a blended rate of 13.1%, and student loans of $90,000 at 6.12%, are hefty obligations with high rates that can eat into your savings.

Moreover, with the federal student loan repayment moratorium ending in three months, this financial burden is set to increase further. This change could affect your ability to refinance in the future, as the increased monthly payment might push your total debt to a level where refinancing is no longer an option.

That's why now is the perfect time to consider our "Credit Consolidator Refi." This plan consolidates your high-interest debts into your mortgage, simplifying your finances into one manageable payment. It may also reduce your interest over time, helping you become debt-free faster.
( see the videos above for details )

Let's act now to take control of your financial future before the student loan payments restart. I'd love to discuss how this refi can benefit you.

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Calculating the blended rate, student loan payment, and potential savings.

➡️ Blender Rate

A blended interest rate is the weighted average interest rate of two or more loans. It's calculated based on the amount of each loan and its respective interest rate. Here's how you would calculate the blended rate for your situation:

First, determine the total interest being paid on each loan:

$100,000 * 9% = $9,000
$50,000 * 23% = $11,500
Then, add the total interest together and divide by the total loan amount:
($9,000 + $11,500) / ($100,000 + $50,000) = 0.137 or 13.7%

So, the blended interest rate of your $100,000 HELOC at 9% and your $50,000 in credit card debt at 23% would be approximately 13.7%. This rate gives you an overall picture of the interest you're paying on your combined debt.

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➡️ Student Loans

Details:
LOAN AMOUNT & RATE
90k @ 6.1%

Before:
STUDENT LOAN PAYMENT
$1,004 / Month

After:
STUDENT LOAN PAYMENT
$500/Month

LOWER STUDENT LOAN PAYMENTS BY
$504/Month

Loan Calculator To Run The Numbers For Yourself
https://www.myloansense.com/c/scott-nicholson

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Your Next Steps:

Step 1: Complete Your Loan Application - https://getstartednow.ccmclending.com/128315/8592

Step 2: Once we have your application, then we will issue a detailed needs list to gather and return your documents

Step 3: With the loan app, and paperwork, we will push the file into UW and move forward.