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 This popular loan program is a great way to reduce your monthly payments by allowing you to consolidate those high rate credit cards and installment loans. Cashing-out equity for home improvement or for an investment opportunity may be another reason for selecting this type of loan program. Example of how you may benefit from our 125% LTV loan program ...Before Refinance: Home Value: 200,000 Credit Card Debt: 75,000 Rate: 6.85% Term: 30 Years Mortgage Payoff: 150,000 Monthly Mortgage Payment: 982.00 Monthly Debt Payment: 1,250 ...After Refinance: New Loan: 237,000 New Rate: 7.25% New Payment: 1,616.76 Old Payment: 982.00 + 1,250 = 2,232.00 Monthly Payment Savings = $615.24 Yearly Savings: 7,382.88 3-Year Savings: 22,148.64 5-Year Savings: 36,914.40 * Payments based on 30 Year Amortization, 100% ltv, 1st lien position, 7.25% rate, 7.35% APR. APR may vary depending on term and amount. Rates are subject to change. Loan application subject to credit and underwriting guide lines |
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