Get a jump start on the school year by getting your finances in order. The pause on Federal Student Loan Repayments is ending soon, and so are the various relief efforts related to the pandemic. If you’re looking to manage your payments better and stay afloat – consult with us to learn if refinancing is right for you.

Take advantage of the market’s low mortgage rates by refinancing now and pay off student loans or any other debt or bill. Other benefits of refinancing are:

• Simplify and combine multiple loans into one to get better terms and rates
• Restructure your debt by choosing a new repayment plan: either pay off debt faster or extend the length of your loan and decrease your monthly bills
• Pay less interest over the new life of the loan
• Release a co-signer
• Refinance a parent loan in the child’s name
• Ability to save more money for vacations and retirement, and will help you qualify for other loans, such as a vehicle

You can pay off your student loans by refinancing your mortgage. You’ll need a cash-out refinance, which means taking out a new mortgage loan that’s higher than your current loan’s balance. Those funds are then used to pay off the old loan, and you keep the difference in cash. Using that cash, you can pay your student loans off or settle other debts. It’s technically a way of “rolling” your student loans and other debts into your mortgage loan and paying them off over time.

Call to Learn More & Schedule a Free Consultation

We understand that some borrowers may find the loan process confusing and overwhelming. At Concord Mortgage Inc., we creatively work with our clients to find the right type of loan for their needs. Our knowledgeable and friendly team takes the time to answer your questions to ensure that you understand every step of your financing. Learn more about Concord Mortgage or call us directly for more information at (517) 304-3669.

Concord Mortgage is a mortgage lender/broker you can trust. Whether you’re looking to purchase a home, refinance your existing mortgage at a lower rate, tap into your home’s equity to make home improvements, or consolidate debt, we have the best options to fit your needs. We provide various services to assist you in the mortgage process such as managing, providing information, and consulting. Call us anytime at 517-304-3669 or visit us on our website at www.concordmortgageinc.com today.