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Consolidation loans

Posted in: Consolidation Loans
By Taylor Mortgage Group

A Consolidation loan is simply taking several loans and rolling them into one. This offers you to be able to make one monthly payment instead of several and often time it also offers a low interest rate and longer repayment time.  In the case that a mortgage is secured against a house, the collateralization of the loan allows a lower interest rate rate. The risk to the lender is reduced so the interest rate offered is lower.

A Consolidation loan is often used to pay credit card debt.  The total interest and total cash flow paid towards the debt is lower allowing the debt to be paid off sooner, incurring less interest.  Credit cards usually carry a much higher interest rate the even a unsecured bank loan.  The total interest and total cash flow paid towards the debt is lower allowing the debt to be paid off sooner; incurring less interest.

Debt consolidation can be as simple as a number of unsecured loans rolled into a single secured loan against an asset that holds the value, such as a house.

One of the most important steps in purchasing a home is to be pre-qualified or pre-approved. Eliminate wasted time in the purchase transaction. A pre-approval process can also be helpful in structuring your final goal. You may find that something shows up on you credit report that is incorrect, or may need to do some debt consolidation in order to qualify for the price range you are interested in. We are here to assist and advise you with any challenges that may come up.

A per-qualification can be handled by telephone. This is followed up by a loan package mailed to you overnight along with the application, disclosures and a letter with a list of items that will be needed to complete the transaction. As soon as the documents are returned to us we are able to acquire an official pre-approval in writing from an investor within just a few hours. More complicated packages may require a few days. In any event, we meet our deadlines and commitments without any undue stress for anyone involved.

For additional information on your financing needs please feel free to call Taylor Mortgage Group LLC at 303-339-5950 or Janie Taylor after hours or weekends at 303-884-9393

   

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Taylor Mortgage Group, LLC

Phone
303-884-9393
Fax
 
720-306-3813

Click Here to Email Us


CO  License:  100013875
NMLS: 385946
Regulated by the Colorado Dept. of Regulatory Agency



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