Refinance Loans

HARP is a government program originally introduced in 2009 to specifically help homeowners with little to no equity in their homes to take advantage of low interest rates and other refinancing benefits. There have been several changes to HARP, but the primary enhancement removed the limit on the amount that homeowners could be “underwater” (owe more on their mortgage than their home is worth). Learn More

 

Debt Consolidation Loan

If you’re overwhelmed by debt, you’re not alone. There are some excellent choices out there that can help you get your life back on track. Rolling multiple debts into a single monthly payment can save you money and make your debt easier to manage. A consolidation loan can reduce your monthly debt payments in two ways. First, you may be able to get a lower interest rate on your consolidation loan than you were paying on your various other debts. With interest rates on credit cards often ranging from 12-18 percent, that can produce a real savings.

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Cash-Out Refinance Loan

In a cash-out refinance, you refinance an existing mortgage loan with an even larger loan. You can take the difference between the old and new loans and spend the extra money however you see fit. Cash-out refinances work best in situations where you can lower the rate on your mortgage even as you increase the loan balance. In some cases you may even find yourself paying the same or less than your previous mortgage, because of the adjustment in rate even though you have withdrawn some of your home’s equity. Just as with any loan, there are times when a cash-out refinance makes financial sense, and other times when you are better off choosing a different product.

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