Pride Mortgage Services Property Finance First Home Buyers

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!