Debt Consolidation Home Loans

Due to a tough economy, layoffs and reduced wages in the work force, many Americans have over extended themselves with credit card debt. Many credit cards carry very high, non-tax deductible interest rates (sometimes between 18-29%). To add to the pain, the minimum monthly payment is often high and does not allow you to pay down the debt.

A debt consolidation loan allows you the opportunity to leverage the equity in your home, consolidating all of your bills into one tax-deductible loan.

The interest rate on a mortgage is 10-15% lower than that of a credit card. It is possible for a borrower to reduce their monthly payment by several thousands dollars per month.

By consolidating all of your bills into one low payment, you not only save money monthly but you can clean up your credit.

Debt consolidation loans are possible for borrowers who are self-employed, have bad credit or who do not make a lot of money.

Popular loan products for debt consolidation loans are:
15 Year Fxed Rate Mortgage: allows you to consolidate debt while advance paying the mortgage, allowing you to own the house free and clear in 15 years versus a 30 year term. The 15 year fixed mortgage provides stability and security with fixed rates and does not require a pre-payment penalty.
15 Year Fxed Rate Mortgage

7 Year Interest-Only ARM: offers you an opportunity to capitalize on very low short-term interest rates. Paying down principle is optional, allowing more flexibility with your monthly payments. The 7 year Interest Only ARM does not require a pre-payment penalty.
7 Year Interest-Only ARM

10 Year Interest Only ARM: presents you an opportunity to capitalize on lower interest rates than a 30 year fixed while keeping a fixed rate for 10 full years. Paying down principle is optional, allowing more flexibility with your monthly payments. The 10 year Interest Only ARM does not require a pre-payment penalty.
10 Year Interest-Only ARM