If you’re carrying a lot of debt, it might make good financial sense for you to think about a second mortgage that would allow you to combine outstanding loans, credit card debt, etc.
Your home is your strongest form of collateral, and can get you a better rate on borrowing.
Saving money by combining higher interest rate credit all under one roof has several benefits. A longer amortization can improve your immediate cash flow (keep in mind, the longer period of time you finance means the more interest you pay), OR with a higher payment and shorter amortization, you could pay off your mortgage sooner.
Talk to one of our Lending Specialists today about the best option for you.