Holidays provide the perfect time to splurge a little more than usual. However, each time that you swipe your credit card to purchase a new gift, you are increasing your balance and your future payments. As a top-rated mortgage lender, Perennial Funding might be able to help you refinance, so that you can enjoy the holidays without worrying about excessive credit payments.
Create a Strategy for Refinancing Your Holiday Debts
If you have an above-average mortgage interest rate, now could be a wise time to refinance. With a new home mortgage loan, you might be able to consolidate a variety of credit cards, personal loans and other consumer debts. Refinancing provides an excellent way to avoid higher credit card payments after the holidays. Speaking with one of our licensed loan officers could enable you to develop a strategy for refinancing your holiday debts.
Skip a Mortgage Payment After the Holiday
Similar to when you purchased your home, the payment for a refinanced mortgage loan will not be due for at least 30 days. Depending on your closing date, your first payment on a new mortgage loan might not become due for nearly two months. While this feature to skip a mortgage payment after the holiday does not save you money, it does delay the time that you would be required to make your first payment toward your new home loan.
Use the Equity in Your Home to Refinance
A cash-out refinance transaction is needed to pay off consumer debts or to borrow money against the equity in your home. We offer a variety of loan programs to help qualified borrowers access a portion of their home equity. A licensed appraiser would need to validate the value of your home to help us determine the maximum amount that you could borrow.
Apply to Refinance a Home Mortgage Loan
Completing a mortgage application online is an ideal way to start the process toward refinancing your existing home loan. If you are approved for funding, your loan officer will share the approximate amount that you could borrow from the equity in your home. The actual amount that you will be eligible to borrow will be based on the appraised value of your home and the applicable underwriting guidelines.
The holidays may be more joyous without the thought of increased credit card payments in the months ahead. Contact Perennial Funding today at (888) 826-4856 to inquire about ways that you can refinance to avoid an excessive amount of holiday debts.