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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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