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Sample Refinance Scenario

Creditor                                    Balance              Rate               Monthly Payment             Interest Charges


Bank Mortgage                        $135,000            3.79%             $1075                                $36,827 over 13 years and 4 mos

Car Loan with Bank                  $10,000              10%                $350                                  $1,468

Visa Card                                   $5,000                18%                $150                                  $4,799

Dept Store Credit Card           $3,000                 28%                $120                                  $3,979

Furniture Store                         $2,500                 28%                $95                                    $3,708


Total                                          $155,500                                    $1,790                                $50,781

The Proposed deal reduces interest charges from $50,781 to $32,594. This presents approximately $18,000 in saved interest due to the large reduction in interest rate

New Mortgage Payment of $1,315 vs a present payment of $1,790 per month. A saving of $475 per month

$20,000 in additional cash to spend as you wish

Keep the new mortgage amortization the same as the current mortgage.

Pay off all the above listed debts. Do a new mortgage at 2.6% and drastically lower your overall interest rate

Ideal Mortgage Solution:

Note: We factor into the mortgage the cost of the prepayment penalty to break the existing mortgage and the cost of a lawyer to close the mortgage transaction.

Even with the penalty you would save $475 per month, obtain $20,000 cash, and reduce your overall interest charges by nearly $18,000

(All approvals and rates are subject to approval)

Act now to restructure your debt!
Let us help you
boost your monthly cash flow, pay down your debt faster and save potentially thousands of dollars.
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