Refinancing and Debt Consolidation
If you are in a bad mortgage or your credit card repayments are taking over
your finances, there is likely something we can do to help!
If your mortgage no longer suits your lifestyle, if your bank has become
complacent with your mortgage, if you entered into a sub-prime mortgage and
would now meet the criteria of a superior mortgage or if any of you would
like to have access to some of your equity to take a holiday, buy a new car
or do some renovations than you are a prime candidate for refinancing. Pride
Mortgage Services can show you ways to get into a better mortgage for you,
lowering your repayments or paying off your loan faster!
If you’re making multiple repayments monthly to too many different loans and
paying interest rates above 15% for your credit cards or personal loans and
would like to have it all simplified into one repayment while saving
yourself thousands of dollars in interest, then talk to Pride Mortgage
Services today about Debt Consolidation.
Refinancing
Countless people - in fact more than 80% of home buyers - choose a home loan
for all the wrong reasons. They struggle year after year with results far
below their true potential.
Throwing money at institutions simply because they have advertised the best
rate on the day, or offered you discounted establishment fees, more often
than not ends in bitter disappointment. Some people enter into a
non-conforming loan – like a lo-doc loan – because they don’t want to or
cannot wait to meet the criteria of a better loan, and they end up paying
thousands of dollars in more interest. Over time more and more of the
shortcomings of the loan become painfully apparent and you will either put
up with it, or pay huge penalties and new setup fees to get out and take a
better deal elsewhere.
Do you feel you're working too hard to pay off your loan with very little
reward?
Pride Mortgage Services has developed a reputation for producing results and
developing relationships with homebuyers that are the envy of our
competitors.
For almost a decade, Pride Mortgage Services have committed thousands of
hours, working with homebuyers, one on one, developing and enhancing
knowledge of home loans and ultimately assisting them in choosing the
perfect loan for them.
If you feel you're working too hard to pay off your loan with very little
reward, call us and we'll untangle the Mortgage Maze for you.
Debt Consolidation
Australia has a national credit card debt of over $42 billion dollars.
Credit card companies charge up to 20% interest (and some credit providers
charge more than that, around 25-30% on your credit after the expired
“interest free” period on store purchases) on this debt, and credit card
limits are getting bigger every day. On top of your credit cards, you also
pay your personal loan for that holiday and your car loan at much higher
interest rates than what you’re paying on your home loan.
It is possible to combine all of these debts into your home loan, eliminate
all the extra payments and just make one repayment with much lower interest
right now, saving yourself thousands of dollars or eliminating all your debt
much sooner! Imagine the relief of knowing that your credit card debt is no
longer something you have to worry about.
To Lower Your Repayments
If you are struggling to make the repayments of all your different loans, we
can consolidate all your debt into one loan and ONE MONTHLY REPAYMENT,
saving your hundreds every month.
|
Loan |
Amount |
Interest Rate |
Monthly Repayments |
|
Home Loan |
$150,000 |
5.5% |
$949.11 |
|
Car Loan |
$22,000 |
10% |
$365.23 |
|
Store Card |
$3,200 |
30% |
$90 |
|
Credit Card |
$10,000 |
17% |
$150 |
|
|
|
Total Monthly Repayments |
$1554.34 |
|
This example below shows a mortgage with a rate of 5.5%,
a regular car loan and credit card and a store credit loan after the
expired ‘interest free’ period, with a total monthly payments of
$1554.34. Note: Paying the minimum repayments on store and credit cards
will NEVER reduce those debts.
|
Loan |
Amount |
Interest Rate |
Monthly Repayments |
|
Consolidated Loan |
$185,200 |
5.5% |
$1137.29 |
|
This is how low the monthly repayments for these amounts could be.
To Be Debt-Free Quicker
If you can afford to keep up your current monthly debt repayments but would
rather make this money work harder, then consolidating your debt could make
your debt disappear as well as paying off your mortgage years earlier,
saving you tens of thousands of dollars in interest!!
|
Loan |
Repayments |
Loan Term |
Total Interest Paid |
|
Minimum Repayments |
$1137.29 |
25 years |
$155,987.01 |
|
Maintaining Current Debt Repayments |
$1554.34 |
13yrs 5mths |
$83,287.72 |
|
|
TOTAL SAVED |
11yrs 7mths |
$72,699.29 |
Get in contact with us today and let us reduce
your debt stress and help save you in needless interest!
|