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Consolidate Your Debt​​​

Consolidate debt by refinancing your home.

  • Refinance and get cash to pay off your high-interest debt. Don’t wait!
  • Make one monthly payment instead of several, and pay less overall every month. Unlike credit card interest, the interest on your mortgage is usually tax deductible.*
  • Even if you have less-than-perfect credit, we can help. Paying off your higher-interest debts faster can improve your credit rating.
  • Interested in consolidating two mortgages? We can help you refinance both loans into one that could significantly reduce your monthly mortgage payment.

Talk to a Home Loan Expert now (305) 930-1007 to see if refinancing your home can help you meet your financial goals.


​Here’s why you should choose Standard Mortgage:

​​With more than 35 years of experience, we’ve designed a paperless mortgage process that adapts to your needs.


Here are our most popular loan options for consolidating debt:

  • FHA loan – Refinance your debt into one low-cost loan today.
  • 15-year fixed-rate loan – Consolidate your debt and pay it off sooner with our 15-year fixed-rate mortgage.
  • 30-year fixed-rate loan – Have peace of mind always knowing your payment amount with a 30-year fixed.
  • VA loan – Veterans and active military members can consolidate debt with a low fixed rate.

*Please consult your tax advisor.


How can refinancing help me consolidate my high-interest debt? 

​The average credit card interest rate is much higher than mortgage rates. By comparison, mortgage rates are currently in the 3–6% range.

If the current value of your home is greater than your current mortgage balance, it means you have equity in your home. You may be able to use this equity to refinance your current mortgage and receive cash to pay off your credit card debt.


What is equity? How can it help me consolidate my debt?

Home equity is the appraised value of your home minus the amount you still owe on your loan.

The more equity you have, the more money you may be able to get from a cash-out refinance. Many homeowners take cash out to pay off high-interest debt or make home improvements.


How much does it cost to refinance?

It’s possible to add the costs associated with getting a new mortgage into the total refinance amount to avoid paying anything out of pocket at closing. However, refinancing to get cash out or consolidate your debt may result in a longer loan term or a higher rate, and that might mean paying more in interest overall in the long run.

Talk to a Home Loan Expert to see if refinancing your home can help you consolidate your debt.


​What documents are required to refinance?

The following is a list of documents generally required during the refinance application process:

  • Proof of income: Typically, you’ll need to show original pay stubs for the last 30 days.
  • Copy of homeowners insurance: We’ll need to verify that you have current and sufficient coverage on your home.
  • Copies of your W-2 forms: Each loan applicant will need to supply W-2 forms so we can verify past employment and income history.
  • Copies of asset information: This includes statements for accounts that hold money for closing costs, statements for savings, statements for checking and 401(k) accounts, and investment records for mutual funds or stocks.
  • Copy of title insurance: This helps us verify things like taxes, names on the title and the legal description of the property.

Your lender will also need to pull your credit report as a part of the refinance process, so have your Social Security number handy when it’s time to apply.


How often can I refinance my home?

Some states have limits on how soon or how often their residents can refinance a home loan; these limits are often designed to ensure that the refinance process benefits the homeowner. Regulations aside, it’s very important to make sure that refinancing helps you meet your financial goals. Deciding if it makes sense to refinance your home depends on a number of factors: Does your current lender have a prepayment penalty? Do you have enough equity built up in your home? Are interest rates lower now than they were when you first got your home loan? Do you plan to stay in your home for many years?


Talk to a Home Loan Expert to see if refinancing your home can help you meet your goal