Assuming you have enough equity in your home, accessing it to pay off much higher consumer debt is a viable and cheaper alternative. Paying off high-interest credit cards or high-rate loans with a lower-interest home loan makes sense for many borrowers. However, as with any choice, there are Pros and Cons to be considered. Let’s look at each:
Even if your credit score is “in the tank”, Sun Pacific Mortgage, a reputable hard money lender in California for 30+ years, can offer you a solution to improve your financial health.
We make our decision regarding credit worthiness based on your ability to pay back the loan and the amount of equity in the real estate being used as collateral. Give us a call at 707-523-2099 to discuss your situation and possible solution to high interest consumer credit.
Best, Forest – The Guy in the White Hat
Hard Money Broker and Co-Owner of family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988! 707-523-2099 www.sunpacificmortgage.com.
CA DRE license #010005559 and NMLS #289456
Note: Get our financing despite bad credit, difficult to prove income, property a fixer, etc.! We finance Jumbo loans, Bridge and short-term loans, Owner Occupied purchases and refinances, investment purchases and commercial.